Dubai International Financial Centre (DIFC) issues US $1.25 Billion in Sukuk. The Sukuk.
DIFC Investments LLC, the investment arm of the Dubai International Financial Centre (DIFC), today announced the issue of a US$1.25 billion Sukuk (the Sukuk), the largest rated and the largest Straight Sukuk to come out of the region.
The 5-year Sukuk, the first one to be entirely documented under DIFC Law, attracted a high level of international participation, with 67% of the Sukuk’s subscription originating outside the region. The success of this first issue from DIFC Investments illustrates investor confidence in the jurisdiction of the DIFC, the dramatic growth in Islamic Finance globally and opportunities arising from Dubai’s economic development. Of the US$1.25 billion, 20% comes from Asian investors, 47% from European investors and 33% from investors in the Middle East. The total breakdown was 54% to banks, 35% to fund managers, 7% to central banks and government agencies and 4% to insurance and pension funds.