DIFC Investments Wins Twice at Bonds, Loans & Sukuk Middle East 2015 AwardsPress Release 19 Nov 2015 06:56 pm
Dubai-UAE: 19 November, 2015 – Dubai International Financial Centre Investments (DIFCI), the investment arm of Dubai's leading financial free zone, yesterday won two honours for its US $700 million sukuk at the inaugural Bonds, Loans & Sukuk Middle East Awards.
The DIFCI sukuk received the distinctions in the Investment Grade Bond/Sukuk Deal of the Year and Sovereign/Quasi-Sovereign Financing Deal of the Year categories.
Rajesh Pareek, Chief Financial Officer, Dubai International Financial Centre Authority, received the awards at a gala ceremony held at the Four Seasons Resort Dubai, Jumeirah Beach.
The sukuk, issued with a tenor of 10 years at par with a 4.325 per cent profit rate, received strong investor interest and was oversubscribed by 4.3 times. The final order book size was more than US$3 billion.
Commenting on the win, Pareek said: "We are delighted to be recognised for our successful transaction in the debt capital markets. The sukuk validates our strong financial performance this year and will further support the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the capital of the global Islamic economy. We remain committed to our strategy of emerging as a capital markets centre for the region and hope to launch similar transactions in the future."
Dubai Islamic Bank, Emirates NBD Capital, Noor Bank and Standard Chartered Bank acted as joint lead managers on the issuance.
The Bonds, Loans & Sukuk Middle East 2015 Awards brought together bankers, lead issuers and key investors from the region and highlighted their achievements and excellence in the Middle Eastern bonds, syndicated loans and sukuk markets.