Dubai – Mubasher: Dubai Islamic Bank (DIB) said is acting as lead bookrunner for a 13-month Islamic Murabaha financing deal worth $300 million (AED 1.1 billion) for the Islamic Corporation for the Development of the Private Sector (ICD).

The Murabaha is done in cooperation with First Gulf Bank (FGB), Malaysia’s Mizuho Bank as well as Mizuho Corporate Bank Nederland N.V. as bookrunners, while DIB will act as sole lead coordinator as well as lead bookrunner for the deal, it added.

The largest in ICD’s history, the deal is part of ICD’s resource programme worth $1.2 billion for 2015. The facility will be used to finance regular operations for ICD, a member of the Islamic Development Bank Group.

DIB recently announced repricing Sukuk worth $750 million due on 3 June 2020 as part of its $2.5 billion Sukuk programme.