Dubai Islamic Bank lists $750m sukuk on Nasdaq Dubai

Dubai Islamic Bank (DIB) has listed a $750m sukuk on Nasdaq Dubai.

The 5-year new sukuk issuance is part of DIB’s $7.5bn Sukuk Programme.

The UAE’s first sukuk issuance in 2022 has been priced at a profit rate of 2.74 per cent per annum, 95 basis points over the 5-year US Treasury.

The issuance was oversubscribed by more than 2.5 times, Dubai Media Office reported. The listing strengthens Dubai capital markets’ status with a total value of $79.19bn.

.@NasdaqDubai welcomes listing of US$ 750 million Sukuk by #Dubai Islamic Bank (@DIBtoday). The 5-year new Sukuk issuance is part of #Dubai Islamic Bank’s US$ 7.5 billion Sukuk Program.https://t.co/whq4aKkAdl pic.twitter.com/j2iW9rHUEa

— Dubai Media Office (@DXBMediaOffice) February 15, 2022

In April of last year, DIB had listed a $500m perpetual Additional Tier 1 sukuk.

Read: Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

DIB had also listed a $1bn sukuk on the exchange in November 2020, achieving a 5.7 times subscription rate.

Read: Dubai Islamic Bank lists $1bn sukuk on Nasdaq Dubai