New Issue: Saudi Arabia's Islamic Development Bank sells $750 million 2.35% notes due 2016 at par

By Christine Van Dusen

Atlanta, May 18 - The Islamic Development Bank sold $750 million 2.35% sukuk notes due May 25, 2016 at par to yield mid-swaps plus 35 basis points, a market source said.

HSBC, Standard Chartered Bank, BNP Paribas and Deutsche Bank were the bookrunners for the Regulation S notes.

Islamic Development Bank is a Jeddah, Saudi Arabia-based financial institution created to help economic development in 56 member countries.

Issuer:	Islamic Development Bank
Amount:	$750 million
Maturity:	May 25, 2016
Description:	Sukuk notes
Bookrunners:	HSBC, Standard Chartered Bank, BNP Paribas, Deutsche Bank
Profit rate:	2.35%
Price:	Par
Spread:	Mid-swaps plus 35 bps
Trade date:	May 18
Settlement date:	May 25
Distribution:	Regulation S

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