Published on 11/20/2019 in the Prospect News Emerging Markets Daily.
New Issue: Dubai Islamic Bank prices $750 million 2.95% additional tier 1 trust certificates
By Rebecca Melvin
New York, Nov. 20 – DIB Tier 1 Sukuk (3) Ltd., a subsidiary of Dubai Islamic Bank PJSC, has priced $750 million of additional tier 1 trust certificates due 2025 (series 7) for a profit rate of 2.95%, according to market sources on Wednesday.
The certificates will be listed on the Euronext Dublin exchange.
Dubai Islamic Bank is the largest Islamic bank in the United Arab Emirates.
| Issuer: | DIB Tier 1 Sukuk Ltd.
|
| Obligor: | Dubai Islamic Bank PJSC
|
| Issue: | Additional tier 1 trust certificates (series 7)
|
| Amount: | $750 million
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| Maturity: | Feb. 20, 2025
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| Distribution amount: | 2.95%
|
| Distribution: | Regulation S
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