New Issue: Islamic Development Bank sells $1 billion 1.831% notes due 2020 at par

By Christine Van Dusen

Atlanta, March 5 – Saudi Arabia’s Islamic Development Bank – through IDB Trust Services Ltd. – sold $1 billion 1.831% five-year notes (Aaa/AAA/AAA) at par to yield mid-swaps plus 8 basis points, a market source said.

Talk was set in the mid-swaps plus 10 bps area.

CIMB, Dubai Islamic Bank, GIB Capital, HSBC, Natixis Securities, NCB Capital, National Bank of Abu Dhabi, RHB Islamic Bank and Standard Chartered Bank were the bookrunners for the Regulation S deal.

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

Issuer:	IDB Trust Services Ltd.
Amount:	$1 billion
Maturity:	March 12, 2020
Description:	Islamic bonds
Bookrunners:	CIMB, Dubai Islamic Bank, GIB Capital, HSBC, Natixis Securities, NCB Capital, National Bank of Abu Dhabi, RHB Islamic Bank, Standard Chartered Bank
Coupon:	1.831%
Price:	Par
Yield:	1.831%
Spread:	Mid-swaps plus 8 bps
Trade date:	March 5
Settlement date:	March 12
Ratings:	Moody’s: Aaa
	Standard & Poor’s: AAA
	Fitch: AAA
Distribution:	Regulation S
Price talk:	Mid-swaps plus 10 bps area

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