Emirates Islamic Bank to issue US$500mn sukuk

Emirates Islamic Bank to issue US$500mn sukuk

Published: January 9, 2012

Bank opens order book following investor meetings last week.

Emirates Islamic Bank (EIB) has opened the order book for its five-year US$500mn dollar-denominated sukuk.

The bank, a subsidiary of Dubai-based Emirates NBD, held a series of investor meetings across the Middle East, Asia and Europe last week.

EIB’s lead managers for the transaction are Citi, Emirates NBD Capital, HSBC, National Bank of Abu Dhabi, the Royal Bank of Scotland and Standard Chartered.

If the bank issues sukuk it will be under its Trust Certificate Programme, which is guaranteed by Emirates NBD.

See also Emirates Islamic Bank prepares sukuk