Dubai Islamic Bank Closes USD 1 Billion Five-Year Senior Sukuk Successfully 

Dubai Islamic Bank (DIB) announced that it has successfully priced a USD 1 billion five-year Sukuk issuance on the 16th of June 2021. The annual profit rate attached to the Sukuk is 1.959%.

Why it Matters?

The Sukuk was oversubscribed by 3 times, with the success of this issuance coming despite the large number of new issuances in the market. The transaction represents the lowest pricing compared to any of DIB’s previous Sukuk issuances. According to Dr Adnan Chilwan, Group Chief Executive Officer of DIB, this is evidence of DIB’s strong fundamentals and investor confidence in Dubai and the United Arab Emirates.

Details