Dubai Islamic Bank starts selling 5-year sustainable sukuk

Dubai Islamic Bank, the biggest Islamic lender in the United Arab Emirates, has started selling 5-year sustainable sukuk, according to an arranging bank document reviewed by Reuters on Monday.

The initial price guidance for the Islamic debt sale has been placed around 125 basis points over U.S. Treasuries, the document said.

Dubai Islamic Bank to raise $1bn with sustainable sukuk

The Islamic lenders plans to sell benchmark-sized U.S. dollar-denominated, senior sustainable sukuk under Dubai Islamic Bank’s $7.5 billion Trust Certificate Issuance Programme, the document said.