Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank

Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank

Nasdaq Dubai welcomes listing of US$750 million Sukuk by Dubai Islamic Bank
DUBAI, 15th February, 2022 – Nasdaq Dubai today welcomed the listing of a US$750 million Sukuk by Dubai Islamic Bank (DIB).

The 5-year new Sukuk issuance is part of DIB’s US$7.

5 billion Sukuk Programme.

The UAE’s first Sukuk issuance in 2022 has been priced at a profit rate of 2.

74 percent per annum, 95 basis points over the 5 year US Treasury representing the lowest-ever credit spread on any of DIB’s fixed-rate senior Sukuk issuances.

The issuance was oversubscribed by more than 2.

5 times in a clear testament on the bank’s strong credit profile and attractiveness to international and regional fixed-income investors.

The new listing strengthens Dubai capital markets’ status amongst the leading Sukuk listing venues globally with a total value of US$79.

19 billion.

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