Islamic Development Bank talks dollar benchmark five-year Sukuk at mid-swaps plus low 40s bps

By Rebecca Melvin

New York, Sept. 18 – Islamic Development Bank has set talk on a dollar-denominated benchmark offering of five-year Sukuk at mid-swaps plus the low 40s basis points, according to a market source.

The Regulation S Sukuk is being issued by IDB Trust Services Ltd. via bookrunners Dubai Islamic Bank, First Abu Dhabi Bank, Gulf International Bank, HSBC, Maybank, Standard Chartered Bank, Natixis and Warba Bank.

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

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