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Sunday, 6 March 2016

IDB issues sukuk worth USD 1.5 bln

JEDDAH, March 5 (KUNA) -- The Islamic Development Bank (IDB) has announced a five-year sukuk issuance of USD 1.5 billion, with annual revenue of 1.775 percent, the IDB said on Saturday.

The move is part of the IDB's mid-term sukuk issuance program, which hits a total of USD 25 billion, the IDB added in the statement.

The issuance was arranged by Emirates NBD Capital, Boubyan Bank, Gulf International Bank CIMB, JP Morgan, Natixis and Standard Chartered. It will be listed in the London, Malaysia and Nasdaq Dubai stock exchanges.

A senior IDB official expressed pleasure over the issuance that follows previous ones which realized success, anda record profit margin for the sukuk.

Buying orders started on Wednesday, March 2, as soon as official pricing was announced, 50-55 basic points.

It was earlier announced that the orders were worth more than USD 1.5 billion from investors, of which USD 243.8 million came from the joint lead arrangers and related parties. (end)

(Kuwait News Agency / 05 March 2016)
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