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Nasdaq Dubai welcomes listing of $750 million sukuk by Dubai Islamic Bank
The new listing strengthens Dubai capital markets’ status amongst the leading sukuk listing venues globally with a total value of $79.19 billion
The five-year new sukuk issuance is part of DIB’s $7.5 billion sukuk programme. — File photo
Nasdaq Dubai on Tuesday welcomed the listing of a $750 million sukuk by Dubai Islamic Bank (DIB).
The five-year new sukuk issuance is part of DIB’s $7.5 billion sukuk programme.
The UAE’s first sukuk issuance in 2022 has been priced at a profit rate of 2.74 per cent per annum, 95 basis points over the five-year US Treasury representing the lowest-ever credit spread on any of DIB’s fixed-rate senior sukuk issuances.
The issuance was oversubscribed by more than 2.5 times in a clear testament on the bank’s strong credit profile and attractiveness to international and regional fixed-income investors.
The new listing strengthens Dubai capital markets’ status amongst the leading sukuk listing venues globally with a total value of $79.19 billion. — Wam
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