Dubai - Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, sold $1 billion in five-year sukuk on Tuesday after receiving more than $2.8 billion in orders for the Islamic bonds, a document showed.
It sold the sukuk at 110 basis points (bps) over mid-swaps, tightened from initial guidance of around 135 basis points over mid-swaps, the document from one of the banks on the deal showed.
DIB, a regular issuer in the international debt market, raised $500 million in April in a sukuk sale that set a record low rate for Additional Tier 1 (AT1) deals from the region.
That debt sale followed a $1 billion AT1 sukuk deal in November.
(Reporting by Yousef Saba; Editing by Jacqueline Wong and Barbara Lewis) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))