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Emirates NBD arranges Air Lease Corporation’s $600mln inaugural sukuk

The strong demand for the Sukuk saw orders of over $2.2 billion, allowing ALC to increase the offering to $600 million. The profit rate was tightened by 30 basis points to 5.85%, at a spread of 185 basis points over US treasuries due to the robust order book.

The Sukuk structure adheres to the latest Shari’ah standards, and the offering was anchored by Middle Eastern investors who received 80% of the allocation. The Sukuk was priced flat to its existing conventional curve, attracting high-quality institutional investors outside the US.


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