New Issue: Islamic Development Bank prices $1.5 billion 1.8125% notes due 2019 at par

By Christine Van Dusen

Atlanta, Feb. 27 - Islamic Development Bank sold $1.5 billion 1.8125% five-year Islamic bonds (Aaa/AAA/AAA) at par to yield 1.812%, or mid-swaps plus 23 basis points, a market source said.

The notes were talked at a spread in the mid-to-high 20 bps area.

CIMB, Commerzbank, First Gulf Bank, HSBC, Natixis, National Bank of Abu Dhabi and Standard Chartered Bank were the bookrunners for the Regulation S sukuk.

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

Issuer:	IDB Trust Services Ltd.
Amount:	$1.5 billion
Maturity:	March 6, 2019
Description:	Senior notes
Bookrunners:	CIMB, Commerzbank, First Gulf Bank, HSBC, Natixis, National Bank of Abu Dhabi, Standard Chartered Bank
Coupon:	1.8125%
Price:	Par
Yield:	1.812%
Spread:	Mid-swaps plus 23 bps
Trade date:	Feb. 27
Settlement date:	March 6
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Distribution:	Regulation S
Price talk:	Mid-swaps plus mid-to-high 20 bps area

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