Thursday 20, September 2018 by Kudakwashe

IsDB issues $1.3 billion Sukuk

 

The new transaction has a five-year maturity and a profit rate of 3.4 per cent.

Islamic Development Bank (IsDB) has raised $1.3 billion in senior, unsecured Sukuk.

The deal was marketed earlier this week with an initial price guidance in the high 30 basis points over mid-swaps.

Additionally, the bond sale was arranged by CIMB, Citi as well as Dubai Islamic Bank, Gulf International Bank and HSBC,

LBBW, Natixis, and Standard Chartered Bank were also part of the lenders that arranged the bond sale, reported Reuters.

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