Kuwait – Mubasher: KFH Capital, a fully owned subsidiary of Kuwait Finance House Group (KFH-Group) acted as joint lead manager and book runner for Dubai Islamic Bank’s (DIB) $1 billion benchmark sukuk issue, under DIB's $5 billion Sukuk Programme.

The unit also participated in Hong Kong’s $1 billion sovereign sukuk as a co-manager, according to a statement.

KFH Capital had success in Hong Kong’s issue where the order book surpassed $1.7 billion received from over 88 global institutional investors.

The Wakalah sukuk was priced at a profit rate of 3.132%, 68 basis points over mid-swap with a 10-year tenor.

DIB’s $1 billion sukuk will mature after five years in February 2022, with the initial price set at 185 basis points over the mid-swap, then priced later at a profit rate of 3.664%, equivalent to 170 basis points above the mid-swap.

The Dubai-based bank’s sukuk offering attracted more than $2 billion.