Dubai: Dubai Islamic Bank (DIB) said on Wednesday that it has successfully priced a $1 billion senior unsecured sukuk with a five-year tenor at a profit rate of 3.625 per cent, making it the first dollar benchmark sukuk transaction from the GCC in 2018.
The issuance received 120 orders from a diverse investor base as part of a $1.83 billion order book, indicating an oversubscription of nearly two times.
Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, J.P. Morgan KFH Capital, Sharjah Islamic Bank and Standard Chartered Bank acted as joint lead managers and joint bookrunners while Union National Bank and Boubyan Bank acted as co-managers on the offering.
