Dubai Islamic Bank Makes Debut Sustainable Sukuk Issuance Worth USD 750 Million with Five-year Tenure 

The Dubai Islamic Bank (DIB) has announced the sale of its debut Sustainable Sukuk valued at USD 750 million for a five-year tenure, as per a bank document on the 22nd of November 2022.

Why it Matters?

International bond sales in the Gulf Cooperation Council (GCC) have dropped in 2022 due to persistent volatility and rising rates. The transaction occurs as Gulf issuers seize windows of opportunity to issue debt in shaky markets. Demand for the offering exceeded USD 1.6 billion and the Sukuk, which sold at 155 basis points (bps) over U.S. Treasuries (UST), tightened from initial guidance price of about 175 bps over UST.

Details