Dubai Islamic Bank (DIB) has launched a $750 million senior unsecured Islamic financing facility, seeking commitments from lenders for a three-year bullet term loan as the UAE banking heavyweight taps the syndicated loan market.
The financing is being arranged by HSBC, Mizuho Bank and Standard Chartered, which are serving as mandated lead arrangers and bookrunners for the transaction.
Under the deal structure, lenders committing $125 million or more will receive an upfront fee of 55 basis points. Institutions providing between $75 million and $124 million are eligible for a 50-basis-point fee, while commitments ranging from $50 million to $74 million will attract a 45-basis-point fee.
Bankers have been given until July 17 to submit commitments.
Dubai Islamic Bank, rated A3 by Moody’s and A by Fitch, is the largest Islamic bank in the UAE by assets. The lender is listed on the Dubai Financial Market and remains one of the region’s most prominent Sharia-compliant financial institutions.
The fundraising exercise reflects continued activity in the Gulf’s Islamic finance market, where regional banks are increasingly using syndicated facilities to diversify funding sources and support future growth plans.
