New Issue: Dubai's EIB Sukuk sells $500 million 4.718% notes due 2017 at mid-swaps plus 350 bps

By Christine Van Dusen

Atlanta, Jan. 10 - Dubai's EIB Sukuk Co. Ltd. priced a $500 million issue of sukuk notes due Jan. 18, 2017 (A3//A+) at par to yield 4.718%, or mid-swaps plus 350 basis points, a market source said.

Citigroup, Emirates NBC Capital Ltd., HSBC, National Bank of Abu Dhabi, RBS and Standard Chartered Bank were the bookrunners for the deal, which priced in line with talk.

EIB Sukuk is a unit of Emirates Islamic Bank, a Dubai-based lender.

Issuer:	EIB Sukuk Co. Ltd.
Amount:	$500 million
Maturity:	Jan. 18, 2017
Description:	Notes
Bookrunners:	Citigroup, Emirates NBC Capital Ltd., HSBC, National Bank of Abu Dhabi, RBS, Standard Chartered Bank
Coupon:	4.718%
Price:	Par
Yield:	4.718%
Spread:	Mid-swaps plus 350 bps
Trade date:	Jan. 10
Settlement date:	Jan. 18
Ratings:	Moody's: A3
	Fitch: A+
Price talk:	Mid-swaps plus 350 bps

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