ADX welcomes FAB’s AED 1.3 bn green sukuk: UAE’s largest bank First Abu Dhabi Bank (FAB) will list its three-year AED 1.3 bn (USD 350 mn) shariah-compliant green sukuk on the Abu Dhabi Securities Exchange tomorrow, according to an ADX filing.

The details: The sukuk is priced at 4.93%, which is considered the lowest pricing offered ever achieved by a UAE financial institution in the AED market, according to a statement by FAB back in July. FAB’s AED-denominated green sukuk Al Muarabaha received an Aa3 rating from Moody’s, and AA- from Fitch, all with a stable outlook.

Why is it special? This was the largest AED sukuk issuance and offering in 2023, as well as the largest single-tranche AED issuance, according to the company.

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