Dubai Islamic Bank closes $ 1 billion senior sukuk

Dubai: Dubai Islamic Bank successfully priced a $ 1 billion sukuk issue with a profit of 5.95 percent per annum. This transaction is the lowest price DIB has ever achieved on any of their previous sukuk issues. Despite the heavy supply of sukuk in the market over the past week, it is the bank’s strong credit profile. The transaction was priced intraday after investor calls were completed, which were attended by several local, regional and international investors. The sukuk was re-signed three times with an order book that peaked at $ 3 billion.

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“We are very pleased with the outcome of our latest transaction. Despite the heavy issuance window and a mess of new issues in the market, DIB once again executed a very successful $ 1 billion sukuk. In 2021, both our AT1 capital and now senior issuance were issued at a record low level, which is a clear proof of the confidence that the world markets have in the bank’s fundamental principles, “said Dr Adnan Chilwan, CEO of the group, DIB, said. The sukuk is issued under DIB Sukuk Ltd. and is listed on Euronext Dublin and NASDAQ Dubai.