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Deal of the year

NBAD logoThe National Bank of Abu Dhabi (NBAD) lead- sukuk that was issued by the Dubai Department of Finance has been named the UAE Deal of the Year at the recent Islamic Finance News Awards.

The US$750m 10-year Sukuk issuance was priced at a profit rate of 3.875 per cent. The oversubscription level of 14.6 times was the largest ever  for a sovereign Sukuk transaction.

The issuancel was chosen as the Deal of the Year in a poll of Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world. These were then judged by a panel of experts from non-competing organisations.

 Established in 2005, the poll is the industry’s leading and most comprehensive annual vote to honour the best in the Islamic financial industry.

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