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.
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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