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

Dubai Islamic Bank returns to the international capital markets

Posted on 25 May 2012

Dubai Islamic Bank (DIB, rated Baa1 by Moody’s and A by Fitch) priced on Tuesday 22 May a $500 million five-year Sukuk due May 2017 under its newly established $2,500,000,000 Sukuk Programme.
Deutsche Bank, DIB, Emirates NBD, HSBC and National Bank of Abu Dhabi acted as Joint-Lead Managers and Joint-Bookrunners, with Sharjah Islamic Bank and Union National Bank acting as Senior Co-Managers and Qatar Islamic Bank as Co-Manager. The transaction was priced at a profit rate of 4.752% with a spread of 365 bps over the US$ five year mid swaps………………………………………..Full Article: Source

 
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