UAE’s FAB sets final spread for its 5-year sukuk -document

UAE’s largest lender, First Abu Dhabi Bank, has set final spread for its benchmark-sized 5-year sukuk, or Islamic bond, an arranging bank document showed on Monday.

The final spread for the sukuk was set at 85 basis points over U.S. Treasuries, tightened from 100 bps over the same benchmark released earlier in the day, after the orderbook reached around $1.45 billion, the document said.

The benchmark-sized sukuk is planned under the $5 billion Trust Certificate Issuance Programme and is set to be priced later in the day. (Reporting by…