---
title: "ZAWYA: First Abu Dhabi Bank to issue a 5-year USD benchmark sukuk, IPTs in 115bps area"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285331582.md"
description: "First Abu Dhabi Bank (FAB) has announced the issuance of a five-year USD benchmark sukuk, with initial price thoughts (IPTs) in the 115bps area over US Treasuries. The sukuk, part of a $5 billion Trust Certificate Issuance Programme, is expected to be rated in line with FAB's ratings of Aa3 by Moody’s and AA- by Fitch and S&P. Joint lead managers include Abu Dhabi Islamic Bank, Dubai Islamic Bank, and Standard Chartered Bank. The sukuk will be priced today, with a settlement date of May 13, and will be listed on the London Stock Exchange."
datetime: "2026-05-06T07:42:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285331582.md)
  - [en](https://longbridge.com/en/news/285331582.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285331582.md)
---

# ZAWYA: First Abu Dhabi Bank to issue a 5-year USD benchmark sukuk, IPTs in 115bps area

**Staff Writer**

The UAE’s First Abu Dhabi Bank (FAB), rated Aa3 by Moody’s and AA- by Fitch and S&P (all with a stable outlook), has mandated a dollar-denominated five-year benchmark sukuk with IPTs in the 115bps area over US Treasuries.

The Regulation S senior unsecured Wakala / Murabaha structure is expected to have a rating in line with its issuer FAB Sukuk Company Limited.

The sukuk will come under FAB’s $5 billion Trust Certificate Issuance Programme.

Abu Dhabi Islamic Bank, Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, Industrial and Commercial Bank of China, Kuwait International Bank, KFH Capital and Standard Chartered Bank are the joint lead managers and bookrunners on the issuance.

Standard Chartered Bank is also named as the billing and delivery bank.

The sukuk will be priced today, with a settlement date of May 13. A listing on the London Stock Exchange Main Market will follow.

FCA/ICMA stabilisation rules apply.

FAB’s most recent issuance was in February, where the UAE’s largest bank by assets raised £450 million ($613 million) from a 5.5-year senior unsecured benchmark bond. The bank’s previous two issuances in January raised $750 million each, including a five-year Formosa bond at SOFR +75bps, which was preceded by a five-year benchmark Eurobond at T+60bps.

(Writing by Bindu Rai, editing by Seban Scaria)

bindu.rai@lseg.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

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