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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Performance more

DIB’s $500mln five-year sukuk heavily overbought

Posted on 24 May 2012

Dubai Islamic Bank said its $500 million (Dh1.83 billion) five-year sukuk due May 2017 has been four times oversubscribed. The sukuk’s pricing was announced on Tuesday under its newly established $2.5 billion sukuk programme.
Deutsche Bank, DIB, Emirates NBD, HSBC and National Bank of Abu Dhabi acted as joint lead managers and joint bookrunners, with Sharjah Islamic Bank and Union National Bank acting as senior co-managers and Qatar Islamic Bank as co-manager. The transaction was priced at a profit rate of 4.752 per cent with a spread of 365 bps over the five-year mid swaps………………………………………..Full Article: Source

 
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