Dubai Islamic Bank’s sukuk issuance has received 80 orders and raised $2.5bn.

The bank held an international roadshow during January visiting major financial centres including London, Singapore, Hong Kong, Abu Dhabi and Dubai to garner support from investors for its $1bn tier 1 issuance.

The issuance was initially to be priced in the 7 per cent area, but as demand for the sukuk grew, the pricing was revised to a final profit rate of 6.75 per cent.

In an official statement, Adnan Chilwan, the chief executive officer of the bank said that the appeal of the issuance is due to the strong growth of the bank during 2014. DIB’s financing book grew by almost 28 per cent in the first nine months of 2014.

UK’s HSBC and Standard Chartered Bank were the structuring advisers for the transaction. UAE lenders Al-Hilal Bank, Dubai Islamic Bank, Emirates NBD Capital, National Bank of Abu Dhabi, Noor Bank and Sharjah Islamic Bank joined as joint lead managers.