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Abu Dhabi Islamic Bank may expand Tier 1 sukuk issue by $2-3bn

Published May 28, 2015 Updated May 28, 2015 05:51am

1 min

By Parvez Jabri

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DUBAI: Abu Dhabi Islamic Bank will ask shareholders for permission to expand its existing Tier 1 sukuk issue, originally sold in 2012, by $2 billion to $3 billion, it said in a bourse filing on Thursday.

The increase is subject to regulatory approval, the Abu Dhabi lender said.

The Abu Dhabi lender will also ask shareholders to vote to increase the bank's capital by 168 million dirhams ($45.74 million) through a rights issue.

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