Dubai Islamic Bank tightens guidance for 5-year dollar sukuk – document

Dubai Islamic Bank tightens guidance for 5-year dollar sukuk – document

Dubai - , the United Arab Emirates' largest Islamic lender, tightened price guidance to between 115 and 120 basis points (bps) over mid-swaps for five-year U.S. dollar-denominated sukuk, or Islamic bonds, a document showed on Tuesday It tightened from initial guidance of around 135 bps over mid-swaps after receiving more than $2.5 billion in orders for the debt sale, which is expected to launch later on Tuesday, the document from one of the banks on the deal showed. Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, , , , and the Islamic Corporation for the Development of the Private Sector are arranging the deal. (Reporting by Yousef Saba, editing by Louise Heavens) (([email protected]; +971562166204; https://twitter.com/YousefSaba))