Dubai Islamic Bank has repaid a $750 million, five-year Islamic bond which matured on March 22 using its own resources, the bank said in an e-mailed statement on Wednesday.
The sukuk, which was issued by Dubai's largest sharia-compliant bank in March 2007, was then oversubscribed by three times, with 45 percent allocation to the Middle East, 25 percentto Asia and 30 percent to Europe.
"The ability to repay from our own resources without the need to refinance is testament to the robust fundamentals we have built over the past years," said Adnan Chilwan, deputy chief executive.
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