DUBAI — Dubai Islamic Bank yesterday listed a $750 million sukuk on the Dubai International Financial Exchange (DIFX), after selling the Islamic securities to investors in the Europe, Asia and Middle East.
The sukuk was the first ever issued by the bank, which specialises exclusively in Islamic instruments.
Forty-five per cent of the sukuk issue was placed with investors in the Middle East, 30 per cent in Europe and the balance was placed in Asia.
The sukuk was issued by DIB Sukuk Company Limited, a company incorporated in accordance with the laws of, and formed and registered in, the Cayman Islands. The sukuk issue is rated A1 by Moody's and A by Standard and Poor's. The lead managers and bookrunners for the issue were Barclays Capital, Citigroup and Standard Chartered Bank.