Sunday, July 14, 2024

Emirates Islamic completes $ 500 million Sukku launch


Dubai – Mubasher: Emirates Islamic Bank has concluded a five-year, $ 500 million contract to issue Sukku certificates as part of a $ 2.5 billion Sukku certification program..

This version has received rating “A +” International credit rating agency Fitch said in a statement.

This issue will be listed on Nasdaq Dubai and Euronext Dublin.

Strong demand from the global investor platform contributed to raising the value of booking requests to $ 1.2 billion, which is 2.4 times higher than the actual issue, which helped Emirates Islami reduce the bid and the price of Sukku by 25 basis points. Points compared to the starting price..

The success of the release has led to a rapid return to the credit capital markets for regional providers, following recent climate fluctuations.

Emirates NBD Capital and Standard Chartered Bank acted as international coordinators for the agreement; When the Abu Dhabi Islamic Bank took over; “Arab Banking Corporation”; And the activities of subscription managers and joint placement managers for the “Islamic Bank of Dubai” transaction; Acted as Associate Manager of Kuwait International Bank Transaction.

Salah Amin, CEO of Emirates Islamic Bank, said: “The reduction in the wide demand and price difference for this deal confirms investor confidence in Emirates Islami’s financial capabilities and capabilities. The UAE economy. ”

At the end of October 2021 a bank’s document stated Emirates Islamic BankBanks were commissioned to issue a 5-year dollar-denominated crunch.

He said the bank had appointed Emirates NBD and Standard Chartered to coordinate the global issuance of the planned loan.

Emirates Islamic Bank Profit In the first quarter of 2021, it increased by 36.5 per cent to 211.59 million dirhams, up from about 154.98 million dirhams in the first quarter of 2020..

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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