New Issue: Dubai Islamic Bank sells $500 million 4.752% five-year sukuk at mid-swaps plus 365 bps

By Aleesia Forni

Columbus, Ohio, May 22 - Dubai Islamic Bank (Baa1//A) priced a $500 million 4.752% five-year sukuk at par to yield mid-swaps plus 365 basis points, according to a market source.

The deal priced 10 bps tighter than Monday's talk.

HSBC, Deutsche Bank, Dubai Islamic Bank, Emirates NBD and National Bank of Abu Dhabi were the bookrunners for the Dubai, United Arab Emirates-based bank's deal.

Issuer:	Dubai Islamic Bank
Issue:	Sukuk
Amount:	$500 million
Maturity:	May 30, 2017
Bookrunners:	HSBC, Deutsche Bank, Dubai Islamic Bank, Emirates NBD, National Bank of Abu Dhabi
Coupon:	4.752%
Price:	Par
Yield:	4.752%
Spread:	Mid-swaps plus 365 bps
Trade date:	May 22
Settlement date:	May 30
Ratings:	Moody's: Baa1
	Fitch: A
Price talk:	Mid-swaps plus 375 bps

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