7 Hrs
Source:
الاتحاد
Dubai Islamic Bank issues $1bn Tier 1 sukuk
Dubai Islamic Bank successfully issued perpetual Additional Tier 1 Capital Sukuk worth one billion US dollars at a profit rate of 6.250%. The issuance received bids from over 85 entities worldwide, with the amount oversubscribed at more than 2.3 billion dollars. This issuance reflects investors' confidence in the bank's strength and credit profile and is the largest of its kind in the Gulf Cooperation Council countries recently. About 83% of the sukuk were allocated to investors from the Middle East and North Africa, while investors from Europe and Asia also participated in the offering.
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