#Dubai Islamic Bank sells $750 million in senior sukuk | Reuters

Dubai Islamic Bank sells $750 million in senior sukuk | Reuters

Dubai Islamic Bank (DISB.DU), the United Arab Emirates' largest Islamic lender, sold $750 million in five-year senior unsecured sukuk on Tuesday after the debt sale drew more than $1.6 billion in orders, a bank document showed.

The bonds launched at 95 basis points (bps) over U.S. Treasuries, tightened from initial guidance of around 120 bps over, the document from one of the banks on the deal showed.

Bank ABC (ABCB.BH), Dubai Islamic Bank, Emirates NBD Capital (ENBD.DU), First Abu Dhabi Bank (FAB.AD), KFH Capital (KFH.KW), HSBC (HSBA.L), Sharjah Islamic Bank (SIB.AD), Standard Chartered (STAN.L) and The Islamic Corporation for the Development of the Private Sector are arranging the deal.