Dubai Islamic Bank PJSC (DIB), the UAE’s largest Sharia-compliant lender, has announced plans to issue its first sustainability-linked sukuk, appointing several banks to manage the transaction.
Rated A3 by Moody’s and A by Fitch with a stable outlook, DIB has appointed Arqaam Capital, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, ICBC, KFH Capital, KIB Invest, Maybank, QInvest, Sharjah Islamic Bank, and Standard Chartered Bank as joint lead managers and bookrunners.
Investor consultations are set to commence on Monday, November 10, ahead of a potential five-year, fixed-rate, USD-denominated Reg S senior unsecured sukuk issuance.
The transaction, which remains subject to market conditions, will be conducted via DIB Sukuk Limited under its USD 12.5 billion Trust Certificate Issuance Programme and is expected to mirror the bank’s existing credit ratings.
Standard Chartered Bank has been appointed as the sole sustainability structurer for the offering.
