Home Business Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank

Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank

by Dubai Forum
0 comment

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

You may also like

Leave a Comment

About Us

Dubai Forum your daily news roundup covering news from Dubai, the United Arab Emirates and the Middle East region in general.

We share news about #people, #travel, #fashion, #startups and #Dubai #communities #DubaiForum

Newsletter