DIB set to raise $750m in sukuk

Dubai

Dubai Islamic Bank is set to raise $750 million in Islamic bonds offering a 6.25 percent yield, a document issued by one of the banks leading the deal showed. The largest Islamic lender in the United Arab Emirates received more than $3.4 billion in orders for the paper, according to the document. The Additional Tier 1 sukuk are perpetual, meaning they lack a maturity date, and are non-callable for a six-year period.—Reuters

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