The 18-year-old was taken to hospital in a serious condition
Dubai Islamic Bank (DIB), rated A3 by Moody's and A by Fitch, successfully priced a $1 billion Perpetual Non-Call 5.5yrs Additional Tier 1 Sukuk with a profit rate of 4.625 per cent per annum.
The transaction carries the lowest ever yield achieved by any bank globally on an AT1 Sukuk issue and is the only AT1 Sukuk from the GCC in 2020. Despite the turmoil witnessed in markets this year during the peak of the Covid-19 crisis, DIB's success in this landmark transaction is a testament to the bank’s strong credit profile and standing with international and regional investors. It reaffirms the confidence of international investors not only in DIB but in Dubai and the UAE.
The deal was priced intraday after completing a global investor call, which was attended by several local, regional and international investors. The Sukuk attracted more than 150 high-quality investors and the success of DIB’s offering can be gauged by the substantial international interest in the Sukuk as the orderbook peaked at $5.7 billion – representing a 5.7x subscription on the issue
Dr. Adnan Chilwan, group chief executive officer, DIB, said: “Despite the challenging global environment due to the Covid-19 pandemic during which the market for hybrid capital issuances was shut for quite sometime, DIB created a record of the lowest-ever yield on an AT1 Sukuk by any bank globally. We are delighted at this achievement and grateful to the global investor community for their confidence in the bank and for the support that the global markets place in the bank’s robust fundamentals, as well as in the broader Dubai and UAE economy.”
The Sukuk is issued under DIB Tier 1 Sukuk and is listed on Euronext Dublin and Nasdaq Dubai.
Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Sharjah Islamic Bank and Standard Chartered Bank acted as Joint Lead Managers and Bookrunners on this transaction.
business@khaleejtimes.com
The 18-year-old was taken to hospital in a serious condition
The brothers, who say they are innocent, are accused of having formed an organised criminal network in early 2021 in Romania, as well as in the US and Britain
The left-handed batter scored 3369 runs in 136 one-day internationals and 2893 in 140 Twenty20 internationals — both Pakistan records
Food supplies were distributed to 80 households
On January 31, a heart was airlifted from Delhi to Chennai, paving the way for Ayesha Rashid's life-saving surgery
The online retailer, which is headquartered in Singapore, has said it has around 108 million monthly active users in the 27-nation EU
The baby girl named Rouh, meaning Soul, suffered respiratory problems and a weak immune system, a doctor at the Emirati Hospital in Rafah said
Specialised teams are currently managing the situation by cleaning up and removing the dead fish