" Emirates Islamic Bank" It issues a $ 750 million bonds
Dubai, March 21 / WAM / Emirates Islamic Bank announced today its success in issuing an unacceptable priority sukuk of $ 750 million.
The bank said in a statement that the volume of requests for the release of the issue exceeded $ 1.6 billion, with the requests for subscription in which the volume of supply exceeded 2.1 times, which allowed the bank to reduce the difference from the initial pricing by 30 basis points to a final level at 95 basis points above the return of the US Treasury for five years, which is equivalent to an expected return by 5.059% annually.
The edition, which was completed on March 18, received a wide turnout from global investors, as 80% of the sukuk was allocated to regional investors, and the remaining 20% for international investors.
The number of subscribers has reached more than 100 investors, including a large number of new investors who have been subscribed for the first time on the bank’s instruments, which reflects the growth and reputation of the Emirates Islamic reputation among international investors.
Farid Al -Mulla, CEO of the “Islamic Emirates” stated that this achievement reflects the growing interest of the global investment community in the “Emirates Islamic” and expected that Islamic financing will achieve strong growth and witness a great development in the level of products and structures.
For his part, Mohamed Kamran Wajd, Executive Vice President of the “Islamic”, affirmed the bank’s commitment to developing products and services that meet the increasing demand for innovative Islamic financing solutions that adhere to the highest moral standards in banking services.
In turn, Ibrahim, Commander of the Treasury and Markets Administration in the “Islamic Emirates”, stated that the new version of the sukuk received an exceptional turnout from the market, and this great demand for two great versions of the bank is highlighted within two consecutive years with a value of $ 750 million each of them, the confidence of the global market in the Emirates Islamic and the demand of investors from all over the world to seize the rewarding investment opportunities offered by the bank.
Emirates NBC Capital, HSBC Bank, Al -Mashreq Bank, Dubai Islamic Bank, Standard Charterd and Sharjah Islamic Bank are played as the main joint director of the issuance.
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