{"id":118235,"date":"2026-06-11T00:00:00","date_gmt":"2026-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=118235"},"modified":"2026-06-11T03:04:03","modified_gmt":"2026-06-11T03:04:03","slug":"dib-prices-usd-1-bn-at1-sukuk-after-one-day-virtual-roadshow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/06\/11\/dib-prices-usd-1-bn-at1-sukuk-after-one-day-virtual-roadshow\/","title":{"rendered":"DIB prices USD 1 bn AT1 sukuk after one-day virtual roadshow"},"content":{"rendered":"

Dubai Islamic Bank priced a USD 1 bn perpetual non-call six-year AT1 sukuk <\/strong>yesterday<\/strong>, drawing a book north of USD 2.3 bn, according to a disclosure (pdf)<\/a> \u2014 a day after mandating the issuance<\/a>. It was priced at a profit rate of 6.25%, or a reset spread of 191.10 bps over the interpolated US treasury rate, tightened slightly from initial price thoughts of 6.625%. The mudaraba paper will list on Euronext Dublin and Nasdaq Dubai. <\/p>\n

The accelerated roadshow was deliberate: <\/strong>DIB credited a one-day virtual roadshow, launched Monday through a series of investor calls updating accounts on recent quarterly performance, to keep execution risk low in what it described as a volatile market environment. DIB is rated A3\/A by Moody\u2019s and Fitch.<\/p>\n

Geographically, MENA investors took the lion\u2019s share at 83%<\/strong>, with the UK, Europe, and other international investors absorbing the remaining 17%. By investor type, banks and private banks accounted for 77%, fund managers 21%, and ins. companies, pension funds, and sovereign wealth funds the remaining 2%. <\/p>\n

ADVISORS-<\/strong> Our friends at HSBC and KFH Capital were joint leads on the transaction, alongside Arqaam Capital, ASB Capital, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Mizuho, Sharjah Islamic Bank, Standard Chartered Bank, and Warba Bank.<\/p>\n

\n

In context<\/p>\n

This is the latest signal that GCC paper is still in demand<\/strong>, despite ongoing geopolitical uncertainty and a slight premium still evident in most issuances. Two months into the ceasefire, three major UAE banks have already returned to debt markets \u2014 Emirates NBD with an AT1 issuance<\/a> and First Abu Dhabi Bank with a USD 700 mn sukuk<\/a> \u2014 and all three issuances saw oversubscription rates of more than 2x. <\/p>\n

DIB is also the fifth Gulf bank into the AT1 pool since the war began<\/strong>, by our math, following Emirates NBD<\/a> (USD 750 mn), Saudi Investment Bank<\/a> (SAR 1.85 bn), Alinma Bank<\/a> (twin SAR and USD issuances), and Oman Arab Bank<\/a> (USD 400 mn). <\/p>\n","protected":false},"excerpt":{"rendered":"

DIB credits a one-day virtual roadshow for helping it lock in demand and keep execution risk low<\/p>\n","protected":false},"author":1,"featured_media":118236,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[1391,68,2610,7,66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-118235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-dubai-islamic-banking","tag-enterpriseam-uae","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"0d61d3b0-4c52-419a-a585-5dc13954a0fa","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/704.jpg","photo_position":"above","homepage_title":"","full_issue_title":"DIB becomes second UAE bank to price an AT1 issuance since the war","related_issue":[118228],"teaser":"DIB credits a one-day virtual roadshow for helping it lock in demand and keep execution risk low"},"yoast_head":"\nDIB prices USD 1 bn AT1 sukuk after one-day virtual roadshow - 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