Dubai Islamic Bank USD500m 3.375% PNC6 sukuk

By Mariam Meskin
15 Apr 2021

Rating: A3/—/A

Amount: $500m Reg S sukuk

Maturity: Perpetual (PNC6)

Issue/reoffer price: 100.00

Profit rate: 3.375%

Reoffer spread: 224.6bp over US Treasuries

Launch date: Monday, April 12

Payment date: 19 April

Joint books: Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, Standard Chartered

Bookrunners’ comment:

This deal has the lowest coupon on an AT1 ever ...

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