| The Dubai Government’s principal investment arm, the Investment Corporation of Dubai, has successfully priced a $1 billion sukuk and bond issue, strengthening the fund’s capacity to invest amid a rising market.
The ICD made the announcement on Tuesday for the dual tranche issue comprising six-year $700 million sukuk and 10-year $300 million conventional bonds. The sukuk profit rate was set at 3.508 per cent per annum while the coupon for the conventional bonds was 4.625 per cent. The dual tranche offering was very well received globally and generated a substantial order book that was more than three times oversubscribed...............................................Full Article: Source |