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DIB sells $300m in 2026 Sukuk tap

DIB sells $300m in 2026 Sukuk tap
The bank has set a margin of return at 240 bps
DIB
DIB
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Dubai - Mubasher: Dubai Islamic Bank (DIB) has sold $300 million in the reopening of its existing Sukuk issuance due in 2026, according to Reuters.

The bank has set a margin of return at 240 basis points (bps) over midswaps for the reopening of the Islamic bonds, lower than the initial price guidance of about 250 bps over midswaps, as shown in a cited document published on Tuesday, 23 June.

The UAE's largest Islamic bank has raised around $600 million in orders for the deal.

The same documents are used to reopen existing transactions for a subscription.

It is noteworthy to mention that in early June, the bank has sold long five-year US dollar Sukuk due January 2026 at a total value of $1 billion to close an offering that was postponed from earlier this year, due to the unstable financial market.