Published: May 29, 2013
Bank attracts oversubscribed orderbook for US$1bn dollar issuance.
The Islamic Development Bank has closed the orderbook on a dollar-denominated sukuk at US$1.5bn.
Following a road show that started on May 25, the five-year, US$1bn issuance launched on Wednesday with a profit rate of 1.535%.
Of the 35 accounts to place orders, 50% came from the Middle East and North Africa, 25% from Asia, 23% from Europe and 2% from the US, according to one of the banks working on the deal.
Barwa Bank, Credit Agricole CIB, CIMB, National Bank of Abu Dhabi, Natixis, NCB Capital, Royal Bank of Scotland and Standard Chartered Bank are joint lead managers and bookrunners, with Standard Chartered also acting as global coordinator.