Islamic Development Bank talks €500 million five-year sukuk at mid-swaps plus 20-25 bps

By Rebecca Melvin

New York, Oct. 30 – Islamic Development Bank was talking a €500 million five-year sukuk to yield mid-swaps plus 20 basis points to 25 bps, according to a market source on Tuesday.

The initial price guidance comes a week after roadshow meetings wrapped up for the lender’s inaugural euro benchmark sukuk.

Credit Agricole, LBBW, Natixis and Standard Chartered are bookrunners for the Regulation S notes.

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

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