June 9, 2020 / 9:54 AM / a month ago

Dubai Islamic Bank tightens guidance for dollar sukuk, gets over $4.15 bln in orders - document

DUBAI, June 9 (Reuters) - Dubai Islamic Bank tightened the price guidance for its planned issuance of long five-year dollar sukuk and received more than $4.15 billion in orders for the Islamic bonds, a document showed on Tuesday. Dubai Islamic Bank, the United Arab Emirates’ largest Islamic lender, tightened the price guidance to 250-255 basis points over midswaps, the document from one of the banks arranging the deal showed.

It began marketing them at around 280 bps earlier on Tuesday. The deal is expected to close later on Tuesday. (Reporting by Yousef Saba; Editing by Alex Richardson)

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