Dubai Islamic Bank starts selling 5-year sustainable sukuk

Credit: REUTERS/Mosab Omar

Feb 26 (Reuters) - Dubai Islamic Bank DISB.DU, 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)

((Mohammad.Edrees@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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