Islamic Development Bank lines up sukuk offering as Thursday business

Chicago, Oct. 19 – Islamic Development Bank is planning a dollar-denominated sukuk offering (Aaa/AAA/AAA) for pricing in the Thursday market, according to a market source.

IsDB Trust Services No.2 SARL will be listed as the issuer.

Initial price talk is in the mid-60s basis points over SOFR mid-swaps.

The joint lead managers are BNP Paribas, Credit Agricole CIB, Dukhan Bank, Goldman Sachs International, Islamic Corp. for the Development of the Private Sector, JPMorgan, Mizuho, SNB Capital and Standard Chartered Bank (billing and delivery).

Settlement on the Regulation S deal is expected for Oct. 27.

The Islamic bonds will be listed on Euronext Dublin and Nasdaq Dubai.

The issuer is a Jeddah, Saudi Arabia-based lender.

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