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United Kingdom : NBAD Facilitates UK s Debut Sovereign Sukuk

June 27, 2014



The National Bank of Abu Dhabi (NBAD) has successfully executed the UK government s debut Sukuk issue in its capacity as Joint Lead Manager and Joint Bookrunner.

This groundbreaking Sukuk is the first-ever sovereign Sukuk by a non-Islamic country and the first ever public sterling Sukuk. The deal is for GBP200 million and has a maturity of 5 years. The Sukuk offering was 11.5 times oversubscribed and was very well received by the investor community, and in particular by major Institutional and Islamic accounts.

This mandate confirms NBAD s position as a leading Debt Capital Markets and Sukuk house and is a testament to our capability to deliver innovative term financing solutions to our customers, said Alex Thursby, the Group Chief Executive Officer of NBAD.

Year-to-date global Sukuk issuance has reached US$24 billion.

This growing market provides a valuable and diversified funding source for clients across the West-East Corridor, Mr. Thursby said.


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Source: TendersInfo (India)


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