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Books have opened on Wednesday for the Jeddah-based Islamic Development Bank’s Regulation S Euro-denominated sukuk.
Guidance for the senior unsecured issuance is in the mid-swaps + 50 basis points area.
The sukuk will be issued under the $25 billion Trust Certificate Issuance Programme. The bank raised $2 billion with its first benchmark public sukuk issuance of the year in May.
Pricing date is 30 October with settlement date on 5 November 2024.
Joint lead managers are Abu Dhabi Commercial Bank, BNP Paribas, Crédit Agricole CIB, GIB Capital, ING, J.P. Morgan, Landesbank Baden-Württemberg, and NATIXIS Billing & Delivery J.P. Morgan
(Writing by Brinda Darasha; editing by Seban Scaria)
