New Issue: Islamic Development Bank prices $1.25 billion five-year sukuk at mid-swaps plus 33 bps

By Rebecca Melvin

New York, March 8 – Islamic Development Bank priced $1.25 billion five-year Islamic bonds on Thursday for a yield spread of mid-swaps plus 33 basis points, a London-based market source said.

Pricing came tight compared to initial talk in the high 30 bps area over mid-swaps.

The Regulation S bonds were sold via bookrunners CIMB, Citigroup, Emirates NBD Capital, Gulf International Bank, HSBC, Natixis, SMBC Nikko and Standard Chartered Bank.

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

Issuer:	Islamic Development Bank
Issue:	Islamic bond
Amount:	$1.25 billion
Maturity:	2023
Bookrunners:	CIMB, Citigroup, Emirates NBD Capital, Gulf International Bank, HSBC, Natixis, SMBC Nikko and Standard Chartered Bank
Spread:	Mid-swaps plus 33 bps
Pricing date:	March 8
Distribution:	Regulation S
Price talk:	Mid-swaps plus high 30 bps

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