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Dubai Islamic Bank PJSC (DIB), the UAE’s largest Islamic lender, has mandated banks to arrange its first sustainability-linked sukuk issuance.
The bank, rated A3 by Moody’s and A by Fitch with a stable outlook, has mandated Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, KFH Capital, KIB Invest, Maybank, QInvest, Sharjah Islamic Bank and Standard Chartered Bank as joint lead managers and bookrunners.
Investor calls are scheduled to begin on Monday, November 10, ahead of a potential five-year, fixed-rate, USD-denominated Reg S senior unsecured sukuk offering.
The issuance, subject to market conditions, will be carried out through DIB Sukuk Limited under its $12.5 billion Trust Certificate Issuance Programme and is expected to carry the same ratings as the bank.
Standard Chartered Bank will act as sole sustainability structurer.
(Writing by Brinda Darasha; editing by Seban Scaria)
