Finance Ministry presents three new investor facilitation packages to PM to boost investment climate    Egypt, Bahrain explore deeper cooperation on water resource management    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt expands medical, humanitarian support for Gaza patients    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    African trade ministers meet in Cairo to push forward with AfCFTA    Egypt's President, Pakistan's PM condemn Israeli attack on Qatar    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Madrid trade talks focus on TikTok as US and China seek agreement    Egypt wins Aga Khan Award for Architecture for Esna revival project    Egypt's gold prices hold steady on Sep. 15th    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



National Bank Of Abu Dhabi Issues MYR500m Sukuk
Amwal Al Ghad Published in Amwal Al Ghad on 24 - 11 - 2012

The National Bank of Abu Dhabi (NBAD), one of the 50 safest banks in the world and the safest bank in the Middle East, has successfully issued a MYR500m ($163.4m or Dhs600.1m) Sukuk, its third issuance denominated in Malaysian ringgit (MYR) and the first ever issue of a subordinated debt by a non-Malaysian FI in Malaysia.
The new Sukuk was issued for 15years at a coupon of 4.75% following strong investor demand.
HSBC Amanah Malaysia Berhad, Maybank Investment Bank Berhad, Standard Chartered Saadiq Berhad, and National Bank of Abu Dhabi Malaysia Berhad were the joint lead managers of this transaction.
"We are very pleased that NBAD has set yet another landmark transaction and will continue to show our commitment to a truly Global Debt Platform. This new issue, which also strengthens NBAD's capital levels, reflects the commitment of NBAD to create a yield curve in MYR to meet the strong investor demand for our credit and fits in very well with our core strategy of diversifying the bank's funding sources and extending our maturity profile," said Stephen Jordan, NBAD's Group Treasurer.
NBAD issued its first ever Sukuk and first issuance denominated in Malaysian ringgit (MYR) in June 2010. The groundbreaking MYR500m issuance will mature in 2015. In December 2010, NBAD issued its second MYR500m, which will mature in 2020. Both issuances received extremely strong investor demand and were oversubscribed, showing strong investor appetite for NBAD's credit risk.
Recently, NBAD inaugurated its wholly owned subsidiary National Bank of Abu Dhabi Malaysia Berhad (NBAD - Malaysia) in Kuala Lumpur and made Malaysia its regional hub to lead expansion in the country and across Southeast Asia.
Last month, RAM Ratings, the Malaysian premier credit-rating agency, has reaffirmed National Bank of Abu Dhabi PJSC's (NBAD) respective long and short-term financial institution ratings, at AAA and P1.
The AAA rating of the Group's Senior Medium-Term Notes 'MTN', issued under its existing Islamic/Conventional MTN Programme of up to RM3bn (2010/2030) 'MTN Programme', has also been reaffirmed.
NBAD's long term ratings remain amongst the strongest combined ratings of any financial institution in the MENA region with ratings from Moody's Aa3, Standard & Poor's (S&P) A+, Fitch AA-, RAM (Malaysia) AAA and R&I's (Japan) rating of A+.
Press Release

Clic here to read the story from its source.