Dubai Islamic Bank (DIB), the UAE’s largest Islamic lender, has listed on Nasdaq Dubai its $750 million sukuk, which was more than 2.5 times oversubscribed. 

The five-year senior sukuk offering is a first in the UAE this year and is part of DIB’s $7.5 billion sukuk programme. 

In a new notice, Nasdaq Dubai said the sukuk will be admitted to trading on the exchange today, February 15. 

The bonds have been priced at 95 basis points with a profit rate of 2.74 percent. It is said to have the lowest-ever credit spread on any of the lender’s fixed-rate senior issuances. 

(Writing by Cleofe Maceda; editing by Daniel Luiz ) 

Cleofe.maceda@lseg.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022