IDB to raise US$1.5bn with sukuk

IDB to raise US$1.5bn with sukuk

Published: September 20, 2014

Bank launches five-year, dollar-denominated sukuk.

The Islamic Development Bank has priced its US$1.5bn dollar-denominated sukuk.

Following a roadshow that visited Malaysia, the UAE, Scandinavia, Germany, Switzerland and the UK, the development bank has priced the five-year issuance at mid swaps plus 10 basis points, with a profit rate of 2.111%.

The deal is being run by CIMB, Deutsche Bank, First Gulf Bank, GIB Capital, HSBC, Maybank, Natixis, National Bank of Abu Dhabi and Standard Chartered Bank as joint lead managers and bookrunners.