Dubai’s DIB prices $500m sukuk with lowest yield
- Date: 15-Apr-2021
- Source: The National
- Sector:Financial Markets
- Country:UAE
Dubai’s DIB prices $500m sukuk with lowest yield
Dubai Islamic Bank, the biggest Sharia-compliant lender in the UAE, secured $500 million from a Tier-1 sukuk issues, its second deal in six months, as it continues to build its financial buffers.
The perpetual non-call bond with a tenor of five-and-a-half years offers a 3.375 per cent profit rate per annum. It is the lowest-ever pricing achieved by a GCC bank on an additional Tier-1 sukuk instrument, DIB said in a statement on Thursday to the Dubai Financial Market, where its share trade.
In November, the lender priced its five-year $1 billion
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