Nasdaq Dubai, the region’s international financial exchange, 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 Program.
The UAE’s first Sukuk issuance in 2022 has been priced at a profit rate of 2.74% 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.
News Source: Dubai Media Office
