Islamic Development Bank mandates banks for five-year sukuk

By Rebecca Melvin

New York, Feb. 28 – Islamic Development Bank was heard to have mandated banks to lead an offering of five-year Islamic bonds, market sources said on Wednesday.

CIMB, Citigroup, Emirates NBD Capital, Gulf International Bank, HSBC, Natixis, SMBC Nikko and Standard Chartered Bank, HSBC, Natixis and Gulf International Bank are the bookrunners for the Regulation S deal that was heard being talked at more than $1 billion in size.

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

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