Bonds
Top Abu Dhabi Oil Producer Sells $1.5 Billion in Debut Sukuk
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Abu Dhabi National Oil Co. sold debt compliant with Islamic rules for the first time as the state producer works to diversify funding.
Adnoc raised $1.5 billion with its debut 10-year, Shariah-compliant notes at an annual profit rate of 4.75%, it said Monday. The firm had set the spread on the sukuk, as the securities are known, at 60 basis points over US Treasuries.