Dubai Islamic Bank has launched a $1 billion 5-year sustainable sukuk, a document from the biggest Islamic lender in the United Arab Emirates showed on Monday.

The sukuk was launched at 95 basis points over U.S. Treasuries, tighter than the initial guidance of 125 bps given in a document seen earlier in the day.

Orders for the sale topped $2.40 billion, with pricing and allocation expected later on Monday, the document said.

(Reporting by Shamsuddin Mohd; editing by Jason Neely)