November 14, 2019 / 1:53 PM / a month ago

Dubai Islamic Bank set to raise $750 mln in 5-year sukuk

DUBAI, Nov 14 (Reuters) - Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, is set to raise $750 million via a 5-year sukuk, or Islamic bonds, a document showed on Thursday.

The transaction received orders of around $2 billion, including $433 million from the banks working on the deal, according to the document.

The sukuk offer investors 140 basis points over midswaps, according to the document. (Reporting by Davide Barbuscia; Writing by Hadeel Al Sayegh; Editing by Mark Potter)

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