Dubai Islamic Bank DISB.DU, the United Arab Emirates' largest Islamic lender, on Thursday sold $1 billion in Additional Tier 1 sukuk, or Islamic bonds, at 4.625%, a document from one of the banks arranging the deal showed.
Overall debt issuance from the Gulf so far this year has already surpassed last year’s total, again topping $100 billion and setting a new record as borrowers - especially governments - seek to bolster their finances amid the coronavirus crisis and weak oil prices.
Several more debt sales are expected before year-end, banking sources said.
DIB began marketing the notes at around 5.25% earlier on Thursday and received over $5.5 billion in orders for the debt sale, the document showed.
Overall debt issuance from the Gulf so far this year has already surpassed last year’s total, again topping $100 billion and setting a new record as borrowers - especially governments - seek to bolster their finances amid the coronavirus crisis and weak oil prices.
Several more debt sales are expected before year-end, banking sources said.
DIB began marketing the notes at around 5.25% earlier on Thursday and received over $5.5 billion in orders for the debt sale, the document showed.
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