A document showed that the largest Islamic bank in the UAE sold dollar bills and closed a deal that the bank had postponed during the vagaries of the financial market earlier this year. >
According to the document, these sukuk were sold above the fixed and variable interest swap rates earlier on Tuesday, as the sukuk were priced at 245 basis points above. Average fixed and variable interest swap rates, 35 basis points less than their initial indicative price earlier.
Islamic bank sukuk that will mature on January 16, 2026 have received $ 4.5 billion in subscription applications (more than 4 times the requirement).
The bank appointed a group of banks in February regarding the deal, which would have been valued at about $ 750 million, and the sale was postponed due to unstable market conditions as a result of the outbreak of the Corona virus pandemic. >
