Dubai Islamic Bank (DIB) successfully priced a USD 1 billion Additional Tier 1 (AT1) Perpetual Non-Call 6-Year Sukuk at a profit rate of 6.250%.
The transaction was 2.3x oversubscribed, with the orderbook peaking at over USD 2.3 billion from more than 85 institutional accounts across Europe, Asia, and the Middle East.
Allocation was distributed primarily to the MENA region (83%) and international investors (17%), with 77% of the issuance allocated to banks and private banks.
The Sukuk will be listed on both Euronext Dublin and Nasdaq Dubai.