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Published on 6/9/2020 in the Prospect News Emerging Markets Daily.

Dubai Islamic Bank plans dollar benchmark 5.5-year sukuk

By Rebecca Melvin

New York, June 9 – DIB Sukuk Ltd., a subsidiary of Dubai Islamic Bank PJSC, has mandated banks to arrange a benchmark-sized offering of dollar-denominated 5.5-year Islamic bonds, according to a regulatory notice on Tuesday.

The notes will mature Jan. 16, 2026.

The bank has 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 managers of the Regulation S notes.

Dubai Islamic is the largest Islamic bank in the United Arab Emirates.


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