Flydubai’s debut $500m sukuk oversubscribed over 6 times | GulfNews.com:
"Dubai Aviation Corporation, also known as flydubai, said on Thursday its $500 million debut sukuk was oversubscribed over 6 times, indicating strong investor appetite. The five-year sukuk was priced at a profit rate of 3.776 per cent, equivalent to 200 basis points over the mid-swaps. About 150 investors placed orders worth $3 billion (Dh11 billion). “The highly successful offering demonstrates the confidence which international investors place in the Emirate of Dubai and its entities and confirms the access to funding which our corporates enjoy from the Islamic Capital Markets,” Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation and Chairman and CEO of Emirates airline and Group, and chairman of flydubai, said in a statement.
Credit Agricole, Dubai Islamic Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi, Noor Bank and Standard Chartered are the arrangers for the sukuk sale."
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