Dubai Islamic Bank has priced its inaugural USD1 billion sustainability-linked sukuk at a spread of 90 basis points over US Treasuries, carrying a semi-annual coupon of 4.572%. The initial price thoughts had been indicated around the T+120bps level.
The Sukuk Al-Wakala attracted solid demand, with the final orderbook closing at USD1.85 billion, excluding joint lead managers, after reaching a peak of USD2 billion during the process.
This transaction is issued under the bank’s USD12.5 billion Trust Certificate Issuance Programme, which is structured in accordance with English law.
