Wednesday 31, October 2018 by Kudakwashe

Islamic Development Bank to sell $567 million Sukuk


The Islamic bonds are marketed with a price guidance of around 22 basis points over mid-swaps.

The Islamic Development Bank (IsDB) is selling euro-denominated Sukuk which is expected to be EUR 500 million ($567 million) in size.

Last month IsDB raised $1.3 billion in senior, unsecured Sukuk with a five-year maturity and a profit rate of 3.4 per cent, corresponding to a spread of 32 basis points over mid-swaps.

Credit Agricole, LBBW as well as Natixis and Standard Chartered are arranging the transaction, reported Reuters.

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