Dubai Islamic Bank gives price guidance for AT1 sukuk - document

Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and Standard Chartered are arranging the deal, expected to close later on Tuesday

  
General view of Dubai Islamic Bank on January 4, 2017 in Dubai, United Arab Emirates. Image used for illustrative purpose.

General view of Dubai Islamic Bank on January 4, 2017 in Dubai, United Arab Emirates. Image used for illustrative purpose.

Getty Images

DUBAI - Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, gave on Tuesday price guidance of between 3.625% and 3.75% for U.S. dollar-denominated Additional Tier 1 sukuk, a document showed.

Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and Standard Chartered are arranging the deal, expected to close later on Tuesday, the document from one of the banks showed.

The Islamic bonds will be non-callable for six years. 

(Reporting by Yousef Saba; Editing by Clarence Fernandez) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))

More From Islamic Finance