Emirates Islamic Bank, the sharia-compliant arm of Dubai's largest lender Emirates NBD , priced a $500 million sukuk on Wednesday, as the lender took advantage of strong demand for Islamic debt from the Gulf Arab region.
The sukuk, due to mature in January 2018, priced at par at a spread of 310 basis points over midswaps and carried a profit rate of 4.147 percent, lead arrangers said.
It is EIB's second debt markets foray this year, after the lender issued a $500 million Islamic bond in January. That issue carried a profit rate of 4.718 percent.
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