Dubai Islamic Bank (DIB) is set to issue benchmark-sized, USD-denominated five-year senior sustainable sukuk after hiring banks to advise on the issuance, Reuters reports, citing an arranging document it saw. The issuance is part of its USD 7.5 bn trust certificate issuance programme.

What’s next: Investor meetings for the issuance will take place starting today, according to the newswire.

Background: DIB issued USD 1 bn sustainable sukuk in February 2023, and a 750 mn sustainable sukuk issuance earlier in November.

Advisors: The emirate’s largest Islamic bank has appointed our friends at Mashreq, along with Al Rajhi Capital, Arab Banking Corporation (ABC), Emirates NBD Capital, First Abu Dhabi Bank, HSBC, JPMorgan, Abu Dhabi Islamic Bank, Sharjah Islamic Bank, and Standard Chartered as lead managers and joint bookrunners. DIB will also be among the lead managers and joint bookrunners. Standard Chartered will independently manage sustainability standards.

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