Tuesday 15 May 2012

Dubai Islamic eyes benchmark Islamic bond

Dubai Islamic Bank (DIB), the largest sharia-compliant lender in the Gulf Arab emirate, is planning to issue a benchmark-sized, dollar-denominated Islamic bond, or sukuk, lead arranging banks said.

Roadshows for the bond sale will begin in Kuala Lumpur on Thursday and end in London on Monday, a document issued by the lead banks on Tuesday showed.

In addition to DIB, an advisor to Dubai government's recent $1.25 billion bond sale, the lead banks for the bond issue are HSBC, National Bank of Abu Dhabi, Emirates NBD, Deutsche Bank.

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