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DIB likely to sell $200m worth of its Sukuk

DIB likely to sell $200m worth of its Sukuk
The bank has tightened the price guidance for the notes
DIB
DIB
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Dubai - Mubasher: Dubai Islamic Bank (DIB) is forecast to sell an instrument of over $200 million of its existing Sukuk issuance due in 2026, Reuters reported on Tuesday.

The bank has tightened the price guidance for the notes at 240-245 basis points (bps) over midswaps, lower than their initial price guidance of around 250 bps, as per a cited document issued from a bank arranging the deal.

Expected to close on Tuesday, the UAE's largest Islamic bank has raised over $500 million in orders for the deal.

It is noteworthy to mention that in early June, DIB has issued a long five-year US dollar Sukuk at a total value of $1 billion, which was oversubscribed 4.5 times at $4.5 billion.