Tuesday, May 15, 2012
DUBAI (Zawya Dow Jones)--Dubai Islamic Bank, the U.A.E.'s largest shariah-compliant lender by market value, plans to meet fixed-income investors starting this week and may issue a U.S. dollar, benchmark-sized Islamic bond, or sukuk, depending on market conditions, a banker aware of the transaction said Tuesday.
DIB is meeting investors in Asia, the Middle East and Europe starting May 17, the banker, who declined to be identified, told Zawya Dow Jones. It has mandated Deutsche Bank, DIB, Emirates NBD, HSBC and National Bank of Abu Dhabi to arrange these meetings, the banker noted, adding that a Regulation S transaction could be launched early next week.
Several regional banks have tapped the markets this year as appetite for the region's debt is strong, buoyed by hopes of robust economic growth fueled by high oil prices.
-By Nikhil Lohade, Dow Jones Newswires; +9714 446-1694; nikhil.lohade@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
15-05-12 0511GMT
