First Abu Dhabi Bank tightens guidance for dollar sukuk

Dubai: First Abu Dhabi Bank has tightened its price guidance for its planned five-year dollar sukuk offering by 10 basis points to around 140 basis points over mid-swaps, a document from one of the banks leading the deal shows.

The largest lender in the United Arab Emirates plans to issue benchmark-sized sukuk, or Islamic bonds, later on Tuesday.

Benchmark deals are generally upwards of $500 million (Dh1.84 billion). (Reuters)