by bondevalue | May 27, 2021 | Distressed / Defaulted Bonds
A judge in Abu Dhabi’s International Financial Center (ADGM) has ruled in favour of Dubai Islamic Bank (DIB) in a case dealing with claims over securities of the troubled NMC. According to the ruling, the ADGM court does not have jurisdiction over the agreements...
by bondevalue | Apr 15, 2021 | High Yield Bonds
Payouts to the debt holders of UAE’s largest healthcare provider, NMC could be put on hold after the company filed a lawsuit against Dubai Islamic Bank (DIB) to place securities claimed by DIB under its administrator Alvarez & Marshal (A&M). NMC’s...
by bondevalue | Apr 14, 2021 | Financial Institutions, Perpetual Bonds
Dubai Islamic Bank (DIB) raised $500mn via a perpetual non-call 6Y (PerpNC6) AT1 Sukuk at a yield of 3.375%, an average of 31.25bp inside initial guidance of 3.625-3.75% area. The bonds are unrated and received orders over $2.7bn, 5.4x issue size. The AT1s’...
