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Emirates Islamic hires banks for US dollar-denominated Sukuk issuance

Emirates Islamic hires banks for US dollar-denominated Sukuk issuance
The banks will arrange for investor calls
Emirates Islamic
EIB
2.17% 8.00 0.17

Dubai – Mubasher: Emirates Islamic Bank has hired banks to arrange the issuance of US dollar-denominated five-year Sukuk, Reuters reported.

The hired banks are Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private Sector, and Standard Chartered, according to a cited document published on Tuesday.

The banks will arrange for investor calls that started on Monday ahead of a benchmark issuance, subject to market conditions.

It is noteworthy to mention that in the first half (H1) of 2020, the bank's net profits plunged to AED 11.846 million, compared to AED 673 million in the year-ago period.