GCC in rude health as DIB prints largest senior FI sukuk and deal pipeline builds

Dubai Islamic Bank printed the largest ever senior financial sukuk on Tuesday, an accomplishment that bodes well for the busy pipeline of Middle Eastern bonds.

  • By Virginia Furness
  • 09 Feb 2017

DIB raised $1bn with five year sukuk al-wakala that landed at 170bp over mid-swaps and offered a profit rate of 3.664%.

A consortium of nine banks had guided pricing from 170bp-180bp at final guidance, having started with initial price thoughts of 185bp area.

DIB has a 2021 outstanding ...

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1 Citi 45,246.26 208 10.06%
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4 Deutsche Bank 23,106.03 91 5.14%
5 Standard Chartered Bank 21,042.29 146 4.68%

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4 Bank of America Merrill Lynch 9,002.62 30 9.63%
5 Morgan Stanley 6,121.99 23 6.55%

Bookrunners of CEEMEA International Bonds

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1 JPMorgan 16,344.60 66 12.27%
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3 HSBC 10,207.12 52 7.66%
4 Deutsche Bank 8,468.11 22 6.36%
5 BNP Paribas 7,684.94 22 5.77%

EMEA M&A Revenue

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1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

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1 ING 2,367.70 19 9.19%
2 SG Corporate & Investment Banking 2,039.65 17 7.92%
3 Sumitomo Mitsui Financial Group 1,965.88 6 7.63%
4 UniCredit 1,759.22 13 6.83%
5 Commerzbank Group 1,202.77 11 4.67%

Bookrunners of India DCM

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2 ICICI Bank 4,323.81 111 9.73%
3 Trust Investment Advisors 4,252.69 112 9.57%
4 Standard Chartered Bank 3,379.47 35 7.60%
5 HDFC Bank 2,210.92 60 4.97%