#Dubai Islamic Bank closes $1bn sukuk - Arabianbusiness

Dubai Islamic Bank closes $1bn sukuk - Arabianbusiness:

Dubai Islamic Bank (DIB) has successfully closed a $1 billion five-year sukuk, with a profit rate of 2.95 percent per annum, the equivalent to 245 basis points (bps) over the equivalent tenor Mid Swap Rate.

It marks the first public benchmark sukuk from a regional financial institution after the Covid-19 pandemic market disruption.

The sukuk attracted more than 170 high-quality investors, with the order book rising to over $4.5bn and nearly 50 percent coming from outside the MENA region.