ABU DHABI: National Bank of Abu Dhabi (NBAD), the UAE’s largest lender by market value, has issued a RM500mil (US$163mil) Islamic bond or sukuk, its third in the currency.
The 15-year sukuk was issued at a coupon of 4.75% and was the first ever issue of subordinated debt by a non-Malaysian financial institution in Malaysia, the bank said.
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