Adib sukuk pricing on Tuesday

Abu Dhabi Islamic Bank has issued an initial pricing indication for a five-year dollar-denominated benchmark-sized sukuk, or Islamic bond, with pricing set for Tuesday at the earliest, leads said on Monday.

The bank will look to price the offering in the mid-200s over midswaps area, according to a document sent out by arranging banks, seen by Reuters.

A benchmark-sized issue indicates an amount of $500 million and upwards.

Investor meetings were due to conclude in London on Monday through ADIB, Citi, National Bank of Abu Dhabi, HSBC, Nomura, and Standard Chartered.