GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

    Share

Dubai, June 16, 2021:  Dubai Islamic Bank PJSC (“DIB”), rated A3 by Moody's and A by Fitch today successfully priced a landmark USD 1,000 million 5 year Sukuk issue with a profit rate of 1.9590% per annum. 

 

This transaction represents the lowest ever pricing achieved by DIB on any of their previous Sukuk issuances.  Despite the heavy Sukuk supply witnessed in the market over the last week, this landmark success is a testament to the bank's strong credit profile and standing with international and regional investors.  
The deal was priced intraday after completing investor calls, which were attended by several local, regional and international investors. The Sukuk was 3x oversubscribed with an orderbook that peaked at USD 3 billion clearly highlighting the investor community's reaffirmation of their commitment to UAE and DIB in particular. 


Dr. Adnan Chilwan, Group Chief Executive Officer, DIB, commented, “We are very pleased with the outcome of our latest transaction. Despite the heavy issuance window, and a clutter of new issuances in the market, DIB once again executed a very successful USD 1bn Sukuk. In 2021, both our AT1 capital and now senior issuance have been issued at record low levels which is a clear testament to the confidence global markets place in the bank's robust fundamentals, as well as investor comfort in the broader Dubai and UAE economy.”  


The Sukuk is issued under DIB Sukuk Ltd. and is listed on Euronext Dublin and NASDAQ Dubai.


Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Standard Chartered Bank, and The Islamic Corporation for the Development of the Private Sector acted as Joint Lead Managers and Bookrunners on the transaction



Posted by : GoDubai Editorial Team
Viewed 3382 times
Posted on : Wednesday, June 16, 2021  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Alpen Capital finds Sri Lanka's Banking and NBFI Sector Resilient Despite Challenges
Next Story : ENBD REIT Announces Full Year Results for 31st March 2021
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
British-Born MG Motor Gains in Popularity during the first half of 2021 in the M...
Time with Michael Phelps
Back to the Office with CATRICE
Take Advantage of Jewellery Surprises at Malabar Gold & Diamonds before it ends
Sony Middle East & Africa Introduces the New Interchangeable-Lens Camera Alpha Z...
FW 21 WEEKEND / MAX MARA
What Colour Is Your Summer? - RADO
Al Fardan Exchange Joins Forces With Empay's Contactless Ecosystem in Landmark D...
Samsung Announces Exclusive Odyssey G9 Curved offer for UAE Consumers through th...
Dubai-Based King Group Hospitality Expands Portfolio that will Boost UAE's Dh55 ...
Push Start! - OMEGA
ADU Welcomes more than 50 High School Students to the “ESTEDAD” Enrichment Bootcamps
Zoho to make Zoho Invoice Free of Charge to Empower SMEs to Rebuild and Grow
Over 300 Aster Doctors honoured with UAE's Golden Visa
11th Edition of SIAL Middle East and Abu Dhabi International Date Palm Exhibitio...
McLaren Racing Launches Multi-Year Partnership with Stanley Black & Decker
ABB to Present Sustainable Solutions at Dubai EXPO 2020
Thought Series – The “True Knowing” and “Genuinely Being” Syndrome
Empower Awards Construction Contract Worth AED 133 Million for its 32,000 RT Dis...
Emirates Integrated Telecommunications Company Reports Q2 2021 results
Dubai's Best Activities for Summer 2021
Samsung's 2021 The Wall is Now Available Worldwide
My Take On FTH's Vegan Meat Range From Future Farms
Early Detection is Key to Treatment of Hepatitis: says MoHAP on World Hepatitis Day
Nikai Launches First WebOS TV in the UAE; Revolutionizing the TV Viewing Experience
EAD and Wetlands International Launch a New Online Portal for the World's Waterb...
NOW OPEN: Union Coop's New Branch in Jumeirah 1
P.F. Chang's Relaunches at Mall of the Emirates, with a New Location and a Brand...
Union Coop Holds 4 Virtual Training Courses for 350 Employees
Dubai Summer Story Contest Challenges Creatives to Produce Ultimate DSS Video an...
Under the Directives of His Highness Sheikh Saud bin Saqr Al Qasimi, Ras Al Khai...
Updates for BMW R 18 and R 18 Classic
Priorities for UAE HR Professionals: Digitization, Talent, and the Future of Wor...
Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Ha...
4 Memorable Holiday Ideas For Eid-Al-Adha
Middle Eastern Medical Students at St. George's University Secure US Residencies
Airbus Reports Half-Year (H1) 2021 Results
Ajman University to Host Exclusive Open Days for Non-Arab students from Aug. 14-16
Chocolate Chip Week Is Back at Denny's
Pogačar Signs New Deal With UAE Team Emirates
Mastercard marks Year of Collective Action in Annual Sustainability Report
The Next Era of Smartphone Innovation is About to Unfold
Commvault Announces Fiscal 2022 First Quarter Financial Results
Dubai Islamic Bank First Half 2021 Group Financial Results
NBQ Announces First Winner of the AED 25,000 Summer Travel Promotion
Al Aliyo HydroFarms Embarks on Hydroponic Fodder Project in Hamriyah Free Zone w...
Sports Partnerships: A Tool for Brand Success
Celebrating Daz, A Glamourous Addition To French Perfume House Mavroki's Exquisi...
AGMC Announces the Arrival of the All-New MINI Countryman PHEV
New Targeted Gene Therapy Could Keep Lung Cancer from Progressing Thereby Extend...