Dubai Financial Market ( DFM ) announced on Monday the listing of two Sukuk issues for the Government of Dubai with a total value of USD 1.250 billion effective from Wednesday, May 2nd 2012.
A statement from DFM said that the first of these issues is a USD 600 million five year Sukuk with a maturity date of May 2nd 2017, and a coupon of 4.90pc, while the second is a USD 650 million 10 year Sukuk with a maturity date of May 2nd 2022, and a coupon of 6.45pc.
While the two Islamic Sukuk will be listed on the DFM , they will be OTC traded and settled through Clearstream and Euroclear, not DFM .
