DIB goes for gold with record-breaking AT1
Dubai Islamic Bank priced the region's tightest ever additional tier one (AT1) bond this week, which may inspire other issuers into the market.
Dubai Islamic Bank, rated A3/—/A, raised $500m from a perpetual non-call six year sukuk on Tuesday.
The Reg S dollar offering was sold at a profit rate of 3.375%, or a margin of 224.6bp over US Treasuries. It was reoffered at par.Pricing on the perpetual instrument had tightened from guidance ...