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Tuesday, 5 April 2016

Islamic Corp for Development of Private Sector to price sukuk Tues

Islamic Corporation for the Development of the Private Sector (ICD) has announced initial price thoughts for a five-year sukuk issue of benchmark size which it plans to price as early as Tuesday, a document from lead arrangers showed.
The unit of Islamic Development Bank has set initial price thoughts in the range of 125 to 130 basis points over midswaps, the document showed.
Benchmark size is traditionally understood to mean in excess of $500 million.

Bank ABC, Boubyan Bank, CIMB, Dubai Islamic Bank, Emirates NBD, First Gulf Bank, HSBC, Mizuho, Societe Generale and Standard Chartered are the arrangers for the transaction.

(Reuters / 05 April 2016)
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