Dubai Islamic Bank PJSC ('DIB'), rated A3 by Moody's and A by Fitch today successfully priced a landmark USD 1,000 million 5 year Sukuk issue with a profit rate of 1.9590% per annum.

This transaction represents the lowest ever pricing achieved by DIB on any of their previous Sukuk issuances. Despite the heavy Sukuk supply witnessed in the market over the last week, this landmark success is a testament to the bank's strong credit profile and standing with international and regional investors.

The deal was priced intraday after completing investor calls, which were attended by several local, regional and international investors. The Sukuk was 3x oversubscribed with an orderbook that peaked at USD 3 billion clearly highlighting the investor community's reaffirmation of their commitment to UAE and DIB in particular.

Dr. Adnan Chilwan, Group Chief Executive Officer, DIB, commented, 'We are very pleased with the outcome of our latest transaction. Despite the heavy issuance window, and a clutter of new issuances in the market, DIB once again executed a very successful USD 1bn Sukuk. In 2021, both our AT1 capital and now senior issuance have been issued at record low levels which is a clear testament to the confidence global markets place in the bank's robust fundamentals, as well as investor comfort in the broader Dubai and UAE economy.'

The Sukuk is issued under DIB Sukuk Ltd. and is listed on Euronext Dublin and NASDAQ Dubai.

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