Dubai Islamic Bank has issued a US $ 750 million Sukuk on a five-year term
with a profit rate of 2.950% per annum, which is equivalent to 140 basis
points, in addition to the average return of five-year swap contracts.
This is the second experience of DIB in the international capital market for
2019, with the first issue of US $ 750 million of additional Tier 1 Sukuk
earlier this year. The Sukuk profit rate of 2.95% is the lowest among Sukuk
issuances. Financial institutions in 2019.
The deal was priced during the day following the completion of global
promotional campaigns involving Hong Kong and London as well as to meet
investor demand.
These meetings were organized to demonstrate the ability of the management
to implement its strategy and showcase the bank's strong credit
fundamentals.The promotional campaign resulted in a high turnout of
investors from the Middle East, Asia and Europe with the closing of the IPO
of more than US $ 2 billion, representing an increase of 2.7 times.
"Dubai Islamic Bank Sukuk issues For the second time during the year
evidence of investor confidence in the bank They are also comfortable with
the overall march of Dubai and the UAE And We are very pleased with the
outcome of this transaction and will remain committed to our local and
global investors who continue to support our diversified funding strategy
".Group CEO said .
Dubai Islamic Bank successfully closes landmark USD 750 million Sukuk, read more https://t.co/EDJR06wpwa pic.twitter.com/C7Dq7wYPPN— Dubai Islamic Bank (@DIBtoday) November 18, 2019
The instruments were issued in the form of Financial Withdrawal within the
program of issuing credit certificates Worth 7.5 billion dollars From Dubai
Islamic Bank, which is listed on "Euronext Dublin" and "NASDAQ Dubai".
Some banks have been mandated to act as joint lead managers and joint
bookrunners for this issue ABC Bank ABC, Dubai Islamic Bank, Emirates NBD
Capital, First Abu Dhabi Bank, HSBC Bank, Maybank, Sharjah Islamic Bank,
Standard Chartered Bank, Warba Bank.
The Islamic Corporation for the Development of the Private Sector (ISDF)
also participated as a Joint Lead Manager and Kuwait International Bank as
an Associate Manager.
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