Dubai Islamic Bank to sell dollar sustainable sukuk

Dubai Islamic Bank has hired banks to arrange an issuance of US dollar-denominated sustainable sukuk, or Islamic bonds, a bank document showed on Thursday.

Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank and the Islamic Corporation for the Development of the Private Sector will arrange investor meetings in Singapore on Monday and in London on Wednesday, the document said.

A benchmark size issuance of fixed-rate long five-year sukuk under DIB’s $7.5 billion issuance programme will follow, subject to market conditions. — Reuters

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