Dubai government lists $1.25 billion sukuks on the DFM

The Government of Dubai has listed two Sukuks with total value of $1.25 billion on Wednesday

Gulf News

Dubai: The Government of Dubai has listed two Sukuks with total value of $1.25 billion on Wednesday, Dubai Financial Market (DFM) said.

The first of these issues is a $600 million five year Sukuk with a maturity date of May 2nd 2017, and a coupon of 4.90 per cent, while the second is a $650 million 10 year Sukuk with a maturity date of May 2nd 2022, and a coupon of 6.45 per cent.

"While the two Islamic Sukuk will be listed on the DFM, they will be over-the-counter traded and settled through Clearstream and Euroclear, not DFM," a statement said.

In addition to these two issues, DFM currently lists two Dubai Government issues which mature in 2014.