New Issue: Islamic Development Bank prices $1 billion 1.535% five-year notes at 30 bps spread

By Christine Van Dusen

Atlanta, May 29 - Islamic Development Bank priced $1 billion five-year Islamic bonds (Aaa/AAA/AAA) at par to yield 1.535%, or mid-swaps plus 30 basis points, a market source said.

The notes were talked at a spread in the high-30 bps area.

Standard Chartered, Barwa Bank, Credit Agricole, CIMB, Natixis, National Bank of Abu Dhabi, NCB and RBS were the bookrunners for the Regulation S deal.

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

Issuer:	Islamic Development Bank
Amount:	$1 billion
Maturity:	June 4, 2018
Description:	Senior notes
Bookrunners:	Standard Chartered, Barwa Bank, Credit Agricole, CIMB, Natixis, National Bank of Abu Dhabi, NCB, RBS
Coupon:	1.535%
Price:	Par
Yield:	1.535%
Spread:	Mid-swaps plus 30 bps
Trade date:	May 29
Settlement date:	June 4
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Distribution:	Regulation S
Price talk:	Mid-swaps plus high-30 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.