Dubai Islamic Bank tightens price guidance for benchmark 5-yr sukuk

27/05/2015 15:54 AST

Dubai Islamic Bank has tightened price thoughts for a benchmark dollar-denominated sukuk issue with a five year lifespan, which is likely to be priced later on Wednesday, a document from lead managers said.

The lender has set revised price guidance for the sukuk at 130 basis points over midswaps, plus or minus 5 bps, a document from lead arrangers showed.

This is tighter than the initial price thoughts at 140 bps over the same benchmark, and comes after strong interest from investors -- the order book was currently worth more than $1.6 billion, the update stated.

Benchmark size is traditionally understood to mean upwards of $500 million. DIB , the largest Islamic bank in the United Arab Emirates, has mandated First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi, Standard Chartered and itself to arrange the deal.

The document from lead arrangers said it would use a wakala structure for its sukuk, in which one party manages assets on behalf of another.


Reuters

News

Dubai Land Department Signs an e-Mortgage Agreement with Dubai Islamic Bank

01/04/2018

Dubai Land Department (DLD) has signed an e-mortgage agreement with Dubai Islamic Bank (DIB), which was signed by His Excellency Juma Bin Humaidan, Deputy Director General of DLD, and His Excellency

Media Office Dubai

DIB launches MyHome, a new home finance product

26/03/2018

Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank on Sunday launched MyHome, a new home finance product that is set to change the face of home finance in the UAE.

The bank said the n

Gulf News

DIB celebrates listing of $1 billion Sukuk on Nasdaq Dubai

21/02/2018

The Dubai Islamic Bank, DIB, rang the market-opening bell today to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai.

The Sukuk is the first benchmark dollar-denominated Sukuk fr

The Gulf Today

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

DIB Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
FAB 11.95 0.20 (1.70%)
NCB 64.98 0.35 (0.54%)
RJHI 76.03 0.78 (1.03%)
EMIRATESNBD 10.65 0.05 (0.47%)
SAMBA 26.98 0.59 (2.23%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap