DFM lists Dubai government Sukuk

Financial Market (DFM) announced the listing of two Sukuk issues for the Government of Dubai with a total value of $1.25 billion on Wednesday, May 2, 2012. The first of these issues is a $600mn five-year Sukuk with a maturity date of May 2, 2017, and a coupon of 4.90 per cent, while the second is a $650mn 10-year Sukuk with a maturity date of May 2, 2022, and a coupon of 6.45 per cent. While the two Islamic Sukuk will be listed on the DFM, they will be OTC traded and settled through Clearstream and Euroclear, not DFM. In addition to these two issues, DFM currently lists two Dubai Government issues which mature in 2014.