Islamic Development Bank sets spread for €500 million five-year sukuk at mid-swaps plus 20 bps

By Rebecca Melvin

New York, Oct. 31 – Islamic Development Bank set the spread for a €500 million five-year sukuk to yield mid-swaps plus 20 basis points, according to a market source on Wednesday.

Pricing was at the tight end of initial price guidance at mid-swaps plus 20 bps to 25 bps.

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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