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DIB lists $500m perpetual Additional Tier 1 Sukuk on Nasdaq Dubai

DIB lists $500m perpetual Additional Tier 1 Sukuk on Nasdaq Dubai
The Sukuk issuance was 5.6 times oversubscribed
DIB
DIB
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Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of a $500 million perpetual Additional Tier 1 Sukuk issued by Dubai Islamic Bank (DIB), according to a press release on Wednesday.

With the lowest yield of 3.375% by a GCC bank on an Additional Tier 1 instrument, the Sukuk issuance was 5.6 times oversubscribed with an order book valued at $2.8 billion.

Following the latest $500 million listing, the total value of the bank's Sukuk issuance on Nasdaq Dubai reached $6.3 billion.

The Sukuk strengthens Dubai’s position as one of the largest centres for Sukuk listings globally, with a total listed value standing at $74.66 billion.