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Wednesday, 4 January 2017

Dubai Islamic Bank requests proposals for dollar sukuk - sources | Reuters

Dubai Islamic Bank requests proposals for dollar sukuk - sources | Reuters:
"Dubai Islamic Bank (DIB) has asked banks to submit proposals to arrange a potential U.S. dollar-denominated sukuk issue, sources familiar with the situation said on Wednesday.

The planned debt transaction would be of benchmark size, which usually means upwards of $500 million, said the sources, adding that the request for proposals was sent a few days ago. A DIB spokesman was not immediately available to comment.

The Islamic lender joins a number of banks in the Gulf region planning to raise debt internationally to improve their liquidity, which has been squeezed by low oil prices."

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