The transaction, which has a perpetual tenor but can be bought back by the lender after the fifth year, is earmarked to price in the area of 6 percent. Order books for the trade are currently worth around
The sukuk will boost the bank's Tier 1 - or core - capital.
No timeframe for when the issue would complete was given in the update, but a market source told IFR - a
The unlisted Islamic lender, owned by the
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