Dubai - Mubasher: Dubai Islamic Bank (DIB) said it has successfully priced a $750 million sukuk issuance set to mature on 3 June 2020.

“The issuance from DIB’s $2.5 billion sukuk programme carries a profit rate of 2.921%, reflecting the strong demand for the credit and confidence investors have in the world’s first Islamic bank,” DIB said in a statement.

The transaction followed a global roadshow covering key financial centres, namely London, Singapore and Kuala Lumpur.

The issuance received more than 85 orders amounting to nearly $2 billion on the back of “insatiable demand from a diverse investor base,” DIB said in its statement, adding that the sukuk will carry a dual-listing on the Irish Stock Exchange and NASDAQ Dubai.

“This is the second time this year that DIB has accessed the global capital market with a successful result. The overwhelming demand from investors has enabled us to price inside DIB’s current yield curve, showcasing investor interest and hunger for DIB paper in the market,” said DIB CEO Adnan Chilwan.