Islamic Development Bank prepares offering of five-year sukuks

Chicago, Sept. 25 – Islamic Development Bank (Aaa/AAA/AAA) is planning a dollar-denominated sukuk offering, according to a market source.

The five-year trust certificates will constitute an issue under IsDB’s $25 billion issuance program.

Barclays, BNP Paribas, Dubai Islamic Bank, First Abu Dhabi Bank, JPMorgan, Mizuho, Natixis, Standard Chartered Bank and Islamic Corp. for the Development of the Private Sector will be joint lead managers and bookrunners for the Regulation S deal.

The issuer is a Jeddah, Saudi Arabia-based lender.

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