Orders surge to $4bn as Dubai Investments prices tight

By Dan Alderson
13 Feb 2014

Dubai Investments Park achieved an order book of over $4bn as it priced its $300m debut five year sukuk well inside guidance at 265bp over mid-swaps on Thursday. The deal was boosted by being the first Middle East Islamic bond of the year but also came amid a resurgence of sentiment around Dubai credits.

On Wednesday, DIP gave initial price thoughts of low 300bp over mid-swaps on the deal. But investors said they expected much tighter pricing, with the note already trading up in the grey market around half a point that day.

Leads subsequently tightened guidance to the 270bp area over mid-swaps after building the ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.