|14 November, 2019

Dubai Islamic Bank set to raise $750mln in 5-year sukuk

The transaction received orders of around $2bln

General view of Dubai Islamic Bank on January 4, 2017 in Dubai, United Arab Emirates.

General view of Dubai Islamic Bank on January 4, 2017 in Dubai, United Arab Emirates.

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DUBAI- Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, is set to raise $750 million via a 5-year sukuk, or Islamic bonds, a document showed on Thursday.

The transaction received orders of around $2 billion, including $433 million from the banks working on the deal, according to the document.

The sukuk offer investors 140 basis points over midswaps, according to the document.

(Reporting by Davide Barbuscia; Writing by Hadeel Al Sayegh; Editing by Mark Potter) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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