Chicago, June 10 – DIB Sukuk Ltd., a subsidiary of Dubai Islamic Bank PJSC (A3//A), sold a $1 billion offering of 2.95% Islamic bonds due 2026, according to a release.
The sukuk came with a yield of 245 basis points over mid-swaps.
The issue is the first benchmark sukuk from a regional financial institution since the beginning of the Covid-19 pandemic.
The order book on the deal was over $4.5 billion from over 170 investors.
The bank mandated Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, the Islamic Corp. for the Development of the Private Sector, KFH Capital, Sharjah Islamic Bank and Standard Chartered Bank as joint lead managers and bookrunners of the Regulation S notes.
Dubai Islamic is the largest Islamic bank in the United Arab Emirates.
| Issuer: | DIB Sukuk Ltd.
|
| Issue: | Sukuk
|
| Amount: | $1 billion
|
| Maturity: | Jan. 16, 2026
|
| Bookrunners: | Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, the Islamic Corp. for the Development of the Private Sector, KFH Capital, Sharjah Islamic Bank and Standard Chartered Bank
|
| Coupon: | 2.95%
|
| Spread: | Mid-swaps plus 245 bps
|
| Pricing date: | June 10
|
| Distribution: | Regulation S
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
