The Islamic Development Bank, a Jeddah-based multilateral lender, has mandated banks to arrange a sale of U.S. dollar-denominated five-year Islamic bonds, or sukuk, fixed-income news service IFR reported on Tuesday.

The price guidance for the benchmark-sized debt sale has been placed around 55 bps over U.S. SOFR mid-swap, IFR said.

Citi, Crédit Agricole Corporate and Investment Bank, DBS Bank Ltd., HSBC, ICBC, NATIXIS, Sharjah Islamic Bank, SNB Capital and Standard Chartered Bank have been appointed as Joint Lead Managers and Bookrunners to lead manage the offering, the IFR report added. (Reporting by Shamsuddin Mohd, Editing by William Maclean)