DIB launches 5-year $500m Islamic bond
Dubai, May 22, 2012
Dubai Islamic Bank launched a five-year, $500 million Islamic bond, or sukuk, at a spread of 365 basis points over midswaps, arranging banks said on Tuesday.
The launch spread was 10 basis points tighter than initial price guidance released the previous day, indicating good demand for the issue.
Pricing is expected later on Tuesday. Deutsche Bank, Emirates NBD, National Bank of Abu Dhabi, HSBC and DIB itself are bookrunners on the deal. – Reuters
More Finance & Capital Market Stories
- Oman 'must consider fiscal reforms as priority'
- Qatar Exchange to start trading govt bonds
- NBK opens new branch in UAE
- Dubai utility repays $871m Islamic bond
- Investcorp buys stake in Saudi energy firm
- Tunisia to spend over $1bn to recapitalise banks
- UAE revives proposal to merge stock exchanges
- Saudi non oil exports hit $4.74bn in April
- Global Takaful market to hit $20bn
- NBAD launches new Dubai branch