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First Gulf Bank Said to Raise $650 Million From Five-Year Sukuk

26/07/2011 08:23:11 AM GMT   Comments ()     Add a comment   Print     E-mail to friend

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First Gulf Bank PJSC (FGB), the United Arab Emirates’ lender controlled by Abu Dhabi’s ruling family, sold $650 million of Islamic bonds, according to two bankers familiar with the transaction.

The five-year sukuk was priced to yield 200 basis points above the benchmark mid-swap rate, said bankers, who declined to be identified because the details are private.


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