Saudi Arabia’s ICD sets roadshow for dollar benchmark Islamic bonds

By Christine Van Dusen

Atlanta, March 22 – Islamic Corp. for the Development of the Private Sector (ICD) will set out on Wednesday for a roadshow to market an offering of dollar-denominated and benchmark-sized Islamic bonds (Aa3/AA/AA), a market source said.

Bank ABC, Boubyan Bank, CIMB, Dubai Islamic Bank, Emirates NBD Capital, First Gulf Bank, HSBC, Mizuho Securities, Societe Generale CIB and Standard Chartered Bank are the bookrunners for the Regulation S deal.

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

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