New Issue: Islamic Development Bank prices $1.5 billion notes due in 2021 at 50 bps spread

By Christine Van Dusen

Atlanta, March 3 – Islamic Development Bank priced a $1.5 billion issue of notes due in 2021 (Aaa/AAA/AAA) at a spread of 50 basis points over mid-swaps, a market source said.

The notes priced at the tight end of talk, set at 50 bps to 55 bps over mid-swaps.

Boubyan Bank, CIMB, Emirates NBD, Gulf International Bank, JPMorgan, Natixis and Standard Chartered were the bookrunners for the Regulation S deal.

Other details were not immediately available on Thursday.

Issuer:	Islamic Development Bank
Amount:	$1.5 billion
Maturity:	2021
Description:	Islamic bonds
Bookrunners:	Boubyan Bank, CIMB, Emirates NBD, Gulf International Bank, JPMorgan, Natixis, Standard Chartered
Spread:	Mid-swaps plus 50 bps
Trade date:	March 3
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA
	Fitch: AAA
Distribution:	Regulation S
Price talk:	Mid-swaps plus 50 bps to 55 bps

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