Tue 15-02-2022 13:29 PM
DUBAI, 15th February, 2022 (WAM) — Nasdaq Dubai today welcomed the listing of a US$750 million Sukuk by Dubai Islamic Bank (DIB). The 5-year new Sukuk issuance is part of DIB’s US$7.5 billion Sukuk Programme.
The UAE’s first Sukuk issuance in 2022 has been priced at a profit rate of 2.74 percent per annum, 95 basis points over the 5 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 US$79.19 billion.
WAM/ /Esraa Ismail/Lina ibrahim