FAB’s Dh1.3 billion sukuk successfully priced at 4.93%

Abu Dhabi: First Abu Dhabi Bank (FAB) has successfully printed the first-ever AED denominated green issuance in the UAE, with the Shariah-compliant instrument also marking FAB’s first UAE dirham-denominated public issuance.

The offering is the largest-ever dirham sukuk as well as the lowest-ever pricing achieved by a UAE financial institution in the AED market. With an issuance of Dh1.3 billion, the RegS 3-year green sukuk was successfully priced on July 19 at 4.93 per cent.

Hana Al Rostamani, Group CEO of FAB, said: “FAB’s inaugural green sukuk, and the UAE’s first AED-denominated green issuance, represents a landmark achievement for both the green finance and Islamic finance sectors in the UAE, as well as for local bonds. As a leading force for investment banking, FAB fully supports the establishment of a thriving dirham bond market, serving to elevate Abu Dhabi’s increasing role as a centre for global finance.”

FAB also acted as joint lead manager and green structuring agent on this sukuk issuance.