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Islamic Development Bank launches $1.5 billion five-year sukuk at mid-swaps plus 50 bps
By Rebecca Melvin
New York, Sept. 25 – Islamic Development Bank has launched a $1.5 billion five-year sukuk, or Islamic bond, to yield mid-swaps plus 50 basis points. Final terms were expected to be set later Wednesday, according to a market source.
Pricing was tightened from initial talk at mid-swaps plus high 50 bps.
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 of the Regulation S deal.
The deal’s issuer is IDB Trust Services Ltd.
The issuer is a Jeddah, Saudi Arabia-based lender.
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