PHOTO
The Jeddah-based Islamic Development Bank has priced its Regulation S Euro-denominated 5-year sukuk at mid-swaps + 50 basis points.
The size of the senior unsecured issuance has been set at EUR 500 million.
Books are in excess of EUR 510 million, including EUR 45 mln including JLM (joint lead manager) interest.
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.
The wakala sukuk will be listed on the Euronext Dublin and Nasdaq Dubai.
(Writing by Brinda Darasha; editing by Seban Scaria)
