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Saturday, May 25, 2024

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Dubai Islamic Bank launches US$1 billion sustainable Sukuk, Reuters reports

UAE: Dubai Islamic Bank (DIB) has launched a five-year sustainable Sukuk facility worth US$1 billion, Reuters reported. The facility, which was launched at a yield of 4.8% and an initial price guidance of around 130bps over US Treasuries, received orders worth over US$2.75 billion, excluding interest from joint lead managers.

Bank ABC, DIB, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Mashreq, Sharjah Islamic Bank, Standard Chartered Bank and the Islamic Corporation for the Development of the Private Sector were the mandated arrangers for the issuance.

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