Dubai Islamic Bank set to raise $750mln in sukuk

The Additional Tier 1 sukuk are perpetual, meaning they lack a maturity date, and are non-callable for a six-year period

  
A branch of Dubai Islamic Bank.

A branch of Dubai Islamic Bank.

Dubai Islamic Bank

DUBAI- Dubai Islamic Bank is set to raise $750 million in Islamic bonds offering a 6.25 percent yield, a document issued by one of the banks leading the deal showed on Wednesday.

The largest Islamic lender in the United Arab Emirates received more than $3.4 billion in orders for the paper, according to the document.

The Additional Tier 1 sukuk are perpetual, meaning they lack a maturity date, and are non-callable for a six-year period.

(Reporting by Davide Barbuscia; Editing by Susan Fenton) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))


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