Dubai – Mubasher: Dubai Islamic Bank (DIB) has sold five-year Sukuk worth $1 billion after receiving over $2.8 billion in orders for the Islamic bonds, Reuters reported.
The bank has issued the Sukuk at 110 basis points (bps) over mid-swaps, compared to the initial guidance of about 135 basis points over mid-swaps, as shown by a cited document from one of the banks arranging the deal.
Bank ABC, Dubai Islamic Bank (DIB), Emirates NBD Capital, First Abu Dhabi Bank (FAB), HSBC, KFH Capital, Standard Chartered, and the Islamic Corporation for the Development of the Private Sector have arranged the transaction.
It is noteworthy to mention that during the first quarter (Q1) of 2021, the net profits attributable to the owners of DIB decreased to AED 845.962 million, compared to AED 1.111 billion in the corresponding period of 2020.
