UAE issues 5-year dollar sukuk

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A document issued by a bank in the UAE revealed that the “Dubai Islamic Bank” has appointed banks to arrange the issuance of dollar-denominated bonds for a period of five years, according to “Reuters”.

The Arab Banking Corporation, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital Investments and Standard are supposed to arrange Chartered, and the Islamic Corporation for the Development of the Private Sector, calls with investors in fixed income instruments, starting today, Monday, according to “Reuters”.

“This will be followed by a standard-size issuance, which is usually not less than $500 million, depending on market conditions,” the agency noted.

Source: “Reuters”



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