Dubai Financial Market (DFM) announced the listing of two Sukuk issues for the Government of Dubai with a total value of US$ 1.250 billion on Wednesday, May 2nd 2012.
The first of these issues is a US$ 600 million five year Sukuk with a maturity date of May 2nd 2017, and a coupon of 4.90%, while the second is a US$ 650 million 10 year Sukuk with a maturity date of May 2nd 2022, and a coupon of 6.45%.
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.