(MENAFN- Khaleej Times) Abu Dhabi Islamic Bank, or ADIB, hired five banks to arrange investor meetings this week before the possible sale of Islamic bonds for the second-biggest Shariah- compliant lender in the UAE.
HSBC Holdings, Morgan Stanley, National Bank of Abu Dhabi, Standard Chartered and Abu Dhabi Islamic Bank will help organise meetings in Asia, the Middle East and Europe starting today, the bank said in a statement to the Abu Dhabi bourse on Tuesday.
The bank said it may offer "hybrid Tier 1 perpetual dollar-denominated" sukuk after the meetings, "subject to market conditions." A perpetual bond has no fixed maturity date, while a hybrid security has features of both debt and equity instruments.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.