Dubai Islamic Bank Lists USD 300 million Sukuk on Nasdaq Dubai in Tap Sale
July 01, 2020 | Updated at July 01, 2020
Email Dubai Islamic Bank (DIB) has listed a USD 300 million Sukuk on the Nasdaq Dubai on the 30th of June 2020. According to a press release, this issuance was a tap on the USD 1 billion Sukuk due 2026 listed by DIB on 16th of June 2020.
On the 23rd of June 2020, DIB sold this USD 300 million Sukuk with maturity in January 2026. The funds raised will go towards supporting DIB’s customers and businesses as economies start to re-build from the impacts of COVID-19.
DIB set a margin of return at 240 basis points over mid-swaps for the reopening of the Islamic securities, this being lower than the initial price guidance of around 250 bps over mid-swaps. DIB also received around USD 600 m...
