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Dubai’s DIB eyes five-year Islamic bond

Dubai Islamic Bank (DIB) has released initial price guidance for a new 5-year benchmark-sized Islamic bond, Reuters has reported. Indicative pricing for the sukuk was given at 375 basis points over midswaps. The borrower wraps up roadshows in London on Monday, and execution of the deal is expected today, arrangers said. An eventual sukuk issue is expected to benefit from a strong local bid as well as demand for Islamic assets despite renewed uncertainty in the euro zone.