Published on 3/14/2007 in the Prospect News Emerging Markets Daily.
New Issue: Dubai Islamic Bank sells $750 million five-year notes at Libor plus 33 bps
By Reshmi Basu
New York, March 14 - Dubai Islamic Bank sold a $750 million debut offering of five-year Islamic floating-rate notes at par to yield 33 basis points more than Libor, according to a market source.
Barclays Capital, Citigroup and Standard Chartered managed the sale.
Dubai Islamic Bank (DIB) is a public joint stock company based in Dubai, United Arab Emirates. It provides banking services based on Islamic principles and is engaged in retail and corporate banking.
| Issuer: | DIB Sukuk LLC, (Cayman Islands Inc.)
|
| Amount: | $750 million
|
| Issue: | Floating-rate notes
|
| Maturity: | March 22, 2012
|
| Coupon: | Three-month Libor plus 33 bps
|
| Issue price: | Par
|
| Yield: | Three-month Libor plus 33 bps
|
| Lead managers: | Barclays Capital, Citigroup, Standard Chartered
|
| Pricing date: | March 14
|
| Settlement date: | March 22
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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