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UAE Noor Bank lists 500-mln-USD Islamic bonds on Nasdaq Dubai

By   /  May 16, 2018  /  No Comments

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UAE Noor Bank lists 500-mln-USD Islamic bonds on Nasdaq Dubai

Dubai, May 16 (Xinhua) — United Arab Emirates (UAE) Islamic bank Noor Bank listed an Islamic bonds of 500 million U.S. dollars, also known as Sukuk, on Nasdaq Dubai, the exchange said in an e-mailed statement on Wednesday.

It underlines Dubai’s role as the largest global centre for Sukuk listings by value, which currently total a nominal value of 59.72 billion U.S. dollars.

The Sukuk is a five-year instrument that was oversubscribed 2.1 times following a successful international roadshow.

It is Noor Bank’s third Sukuk to be hosted by the region’s international exchange, following two listings of 500 million U.S. dollars each in 2015 and 2016.

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