Listing of $ 600 million Sukuk on the NESDAQ Dubai Stock Exchange

NASDAQ Dubai announced today the listing of a $ 600 million sukuk by the Islamic Corporation for the Development of the Private Sector, the private sector arm of the Islamic Development Bank. >

According to a press release, the proceeds of these sukuk will support the large-scale development activities of the Islamic Foundation for the Development of the Private Sector in its 55 member states, including competition creation, entrepreneurship, job opportunities. Export potential, as well as encouraging the development of Islamic finance activities such as sukuk and equity markets.

These instruments were issued for a period of five years, with a return of over 140 basis points above the average swaps.

and the subscription threshold has reached nearly 3 times including requests from the joint principal managers. The issuance has attracted requests from investors from Europe, Asia and the Middle East.

Specifically, 4% of the issuance is allocated to the United Kingdom and Europe, 21% to Asia, and 75% to the Middle East.

According to the categories of investors, the allocation was made to fund managers by 13%, private banks and banks 57%, agencies and central banks 29%, and others 1%.

This is the second sukuk issuance by the Islamic Corporation for the Development of the Private Sector, following its first issuance of a $ 300 million Sukuk in 2016, which is also listed on Nasdaq Dubai. / p>

It is noteworthy that the recent listing of the Islamic Corporation for the Development of the Private Sector raised the total value of the Sukuk listed in Dubai to $ 74.05 billion, confirming the emirate's position as one of the largest sukuk listing centers By value in the world.

It is reported that the Islamic Corporation for the Development of the Private Sector (ICD) Sukuk worth $ 600 million was listed on Nasdaq Dubai on October 15, 2020.