UAE’s Emirates Islamic has detailed a $500m sukuk on Nasdaq Dubai on November 2, 2021.
The 5-years’ benchmark issuance rated A+ by Fitch Rankings, was priced at 2.082 for every cent and was 2.4 moments oversubscribed, official information company WAM claimed.
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Salah Mohammed Amin, CEO of Emirates Islamic, explained: “This issuance will further more assistance Emirates Islamic’s business enlargement programs and progress agenda as we seek out to proceed to be an lively contributor toward UAE’s financial progress. Emirates Islamic is fully commited to aid UAE’s agenda in turning into a purpose design in addressing world troubles.”
“As component of its energetic purpose to guidance major issuers from the UAE and past, Nasdaq Dubai, the global money exchange in the location, is delighted to welcome the new sukuk issuance from Emirates Islamic,” additional Hamed Ali, CEO of Nasdaq Dubai and DFM. “The prosperous issuance and listing of this sukuk is testomony on the self-assurance of set money buyers in common and sukuk traders in distinct on the constructive regulatory framework of Nasdaq Dubai.”
The latest listing provides the bank’s latest sukuk worth on the trade to $1bn through two issuances. Emirates Islamic had also listed a $500m sukuk on the exchange on September 23, 2020.
Browse: Emirates Islamic lists $500m sukuk on Nasdaq Dubai
Very last month, Saudi’s Islamic Advancement Bank (IsDB) detailed a $1.7bn sukuk on Nasdaq Dubai as well.
Browse: Saudi’s Islamic Growth Lender lists $1.7bn sukuk on Nasdaq Dubai