Dubai Islamic Perpetual Bond Price Beats Estimates on Yield Hunt
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Dubai Islamic Bank PJSC priced its $1 billion perpetual sukuk lower than investors estimated as the lender benefited from demand for Shariah-compliant debt.
The biggest Islamic lender in the United Arab Emirates paid a profit rate of 6.25 percent on its perpetual sukuk with an orderbook in excess of $14 billion, the bank said yesterday. Investors estimated the lender would pay between 6.5 percent and