New Issue: Islamic Development Bank prices $1.5 billion 2.11% sukuk at mid-swaps plus 10 bps

By Aleesia Forni

Virginia Beach, Sept. 18 – Islamic Development Bank priced a $1.5 billion 2.11% five-year sukuk (Aaa/AAA/AAA) at par to yield mid-swaps plus 10 basis points on Thursday, a market source said.

The notes sold at the tight end of the mid-swaps plus 15 bps area talk.

CIMB, Deutsche Bank, First Gulf Bank, GIB Capital, HSBC, Maybank, Natixis, National Bank of Abu Dhabi and Standard Chartered Bank are the bookrunners for the Regulation S deal.

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

Issuer:	Islamic Development Bank
Amount:	$1.5 billion
Description:	Sukuk
Maturity:	Sept. 25, 2019
Bookrunners:	CIMB, Deutsche Bank, First Gulf Bank, GIB Capital, HSBC, Maybank, Natixis, National Bank of Abu Dhabi, Standard Chartered Bank
Coupon:	2.11%
Price:	Par
Yield:	2.11%
Spread:	Mid-swaps plus 10 bps
Trade date:	Sept. 18
Settlement date:	Sept. 25
Ratings:	Moody’s: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Distribution:	Regulation S
Price talk:	Mid-swaps plus 15 bps area

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