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DIB mandates banks for additional Tier 1 Sukuk issuance

DIB mandates banks for additional Tier 1 Sukuk issuance
The banks will act as joint lead managers and joint bookrunners
DIB
DIB
0.45% 4.48 0.02

Dubai – Mubasher: Dubai Islamic Bank (DIB) has authorised banks to arrange investor calls for a planned issuance of benchmark fixed-rate additional Tier 1 perpetual Sukuk, Reuters reported.

The mandated banks comprise DIB, Emirates NBD Capital, First Abu Dhabi Bank (FAB), HSBC, Sharjah Islamic Bank, and Standard Chartered Bank, as shown by a document.

The banks will act as joint lead managers and joint bookrunners to arrange a series of fixed income investor calls.

It is noteworthy to mention that in the first nine months of 2020, DIB recorded net profits attributable to the owners of AED 3.13 billion in the first nine months of 2020, down from AED 3.97 billion during the same months in 2019.