Dubai Islamic Bank gives price guidance for AT1 sukuk

DUBAI: Dubai Islamic Bank, the United Arab Emirates' largest Islamic lender, gave on Tuesday price guidance of between 3.625% and 3.75% for US dollar-denominated Additional Tier 1 sukuk, a document showed.

Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC and Standard Chartered are arranging the deal, expected to close later on Tuesday, the document from one of the banks showed.

The Islamic bonds will be non-callable for six years.