Dubai – Mubasher: Dubai Islamic Bank (DIB) managed to price the $1 billion (AED 3.67 billion) senior sukuk issuance by a financial institution globally.

Maturing on 14 February 2022, the sukuk was issued with a 5-year tenor, according to a statement.

The sukuk, which is issued under DIB’s $5 billion (AED 18.36 billion) sukuk programme, carries a profit rate of 3.664%.

The issuance received more than 120 orders from a diverse investor base as part of around $2.2 billion order book.

The bank appointed Bank ABC, DIB, Emirates NBD Capital, HSBC, KFH Capital, Maybank Investment Bank Berhad, National Bank of Abu Dhabi (NBAD), Sharjah Islamic Bank and Standard Chartered Bank as joint lead managers and book runners.