Noor Bank lists $500m sukuk on Nasdaq Dubai

Dubai

Noor Bank listed on Tuesday its $500-million-sukuk on Nasdaq Dubai. The issuance of the five-year Islamic bonds was oversubscribed 2.1 times following an international roadshow.

It is Noor Bank’s second sukuk to be listed by Nasdaq Dubai, following a previous $500 million listing in 2016.

Reuters earlier reported that the sukuk were prices with a profit rate of 4.47 per cent, with the sukuk receiving orders of $1.07 billion from 50 bids across a diverse group of investors. The sukuk mature in April 2023.