ADIB raises $750m in Tier-1 perpetual sukuk

Dubai: Abu Dhabi Islamic Bank said on Saturday it has raised $750 million of additional Tier-1 through a perpetual sukuk that complies with the Basel III regulatory framework issued by the Central Bank of the UAE.

ADIB, the largest sharia-compliant lender in Abu Dhabi, started marketing the notes on Wednesday.

The Additional Tier-1 perpetual bonds are similar to an equity instrument in the fact that they have no maturity.