Dubai Islamic Bank sells $1 bln sukuk
The UAE’s largest Islamic bank has sold a $1 billion long 5-year sukuk.
Dubai Islamic Bank said in a statement on Wednesday (June 10) the sukuk carries a profit rate of 2.95%, equivalent to 245 bps over the equivalent tenor mid-swap rate.
DIB said the sukuk attracted more than 170 investors, with the order book reaching over $4.5 billion. Nearly 50% came from outside the Middle East and North Africa region, according to the bank.
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