Enjoy our faster App experience

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
The five-year new sukuk issuance is part of DIB’s $7.5 billion sukuk programme. — File photo

Published: Tue 15 Feb 2022, 6:45 PM

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


More news from Business