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Islamic Development Bank talks dollar five-year sukuk to yield mid-swaps plus high 50 bps
By Rebecca Melvin
New York, Sept. 24 – Islamic Development Bank plans to price U.S. dollar-denominated five-year Islamic bonds to yield mid-swaps plus high 50 basis points, according to a market source on Tuesday.
Citigroup, Emirates NBD Capital, Gulf International Bank, HSBC, LBBW, RHB Investment Bank Bhd., Societe Generale and Standard Chartered Bank are joint lead managers and joint bookrunners for the Regulation S deal.
The deal is being issued by IDB Trust Services Ltd. and was expected to price on Wednesday.
The issuer is a Jeddah, Saudi Arabia-based lender.
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