Dubai Islamic Bank, the biggest Islamic lender in the United Arab Emirates, has started selling 5-year sustainable sukuk, according to an arranging bank document reviewed by Reuters on Monday.
The initial price guidance for the Islamic debt sale has been placed around 125 basis points over U.S. Treasuries, the document said.
The Islamic lenders plans to sell benchmark-sized U.S. dollar-denominated, senior sustainable sukuk under Dubai Islamic Bank’s $7.5 billion Trust Certificate Issuance Programme, the document said.
(Reporting by Mohammad Edrees; Editing by Tom Hogue)
