New Issue: Saudi Arabia’s ICD issues $500 million trust certificates due 2029

Chicago, Feb. 28 – Islamic Corp. for the Development of the Private Sector (ICD) issued $500 million of trust certificates due 2029 (A2//A+), according to an offering document.

The certificates are being issued by ICDPS Sukuk Ltd. and guaranteed by ICD.

The periodic distribution amount is 4.95%. The certificates priced at par.

Al Rayan Investment LLC, Arab Banking Corp. (BSC), Boubyan Bank KSCP, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Bank plc, KFH Capital Investment Co. KSCC, Mashreqbank psc (acting through its Islamic Banking Division), MUFG Securities EMEA plc and Standard Chartered Bank were the bookrunners on the Regulation S deal.

The obligor, a financial institution that supports member countries through investment in the private sector, is based in Jeddah, Saudi Arabia.

Issuer:	ICDPS Sukuk Ltd.
Obligor:	Islamic Corp. for the Development of the Private Sector
Amount:	$500 million
Issue:	Sukuk
Maturity:	Feb. 14, 2029
Bookrunners:	Al Rayan Investment LLC, Arab Banking Corp. (BSC), Boubyan Bank KSCP, Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, HSBC Bank plc, KFH Capital Investment Co. KSCC, Mashreqbank psc (acting through its Islamic Banking Division), MUFG Securities EMEA plc and Standard Chartered Bank
Coupon:	4.95%
Price:	Par
Yield:	4.95%
Trade date:	Feb. 12
Settlement date:	Feb. 14
Ratings:	Moody’s: A2
	Fitch: A+
Distribution:	Regulation S
ISIN:	XS2760670013

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