Dubai Islamic Bank (DIB), the UAE’s largest Islamic lender, has listed on Nasdaq Dubai its $750 million sukuk, which was more than 2.5 times oversubscribed.
The five-year senior sukuk offering is a first in the UAE this year and is part of DIB’s $7.5 billion sukuk programme.
In a new notice, Nasdaq Dubai said the sukuk will be admitted to trading on the exchange today, February 15.
The bonds have been priced at 95 basis points with a profit rate of 2.74 percent. It is said to have the lowest-ever credit spread on any of the lender’s fixed-rate senior issuances.
(Writing by Cleofe Maceda; editing by Daniel Luiz )
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