NBAD enables UK’s sovereign sukuk issue

The National Bank of Abu Dhabi, or NBAD, has successfully executed the UK government’s debut sukuk issue in its capacity as joint lead manager and joint bookrunner.

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Fri 27 Jun 2014, 9:28 PM

Last updated: Sat 4 Apr 2015, 4:48 AM

The sukuk is the first-ever sovereign sukuk by a non-Islamic country and the first ever public sterling sukuk. The deal is for £200 million and has a maturity of five 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 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 $24 billion. “This growing market provides a valuable and diversified funding source for clients across the West-East Corridor,” he said.


More news from