IsDB Raises USD 1.7 Billion in Five-Year Sukuk; Draws USD 2.4 Billion in Demand

Saudi-based Islamic Development Bank (IsDB) has sold USD 1.7 billion worth of five-year Sukuk at 25 basis points (bps) over mid-swaps on the 13th of October 2021, according to a bank document.

Why it Matters?

IsDB was expecting to raise USD 1.5 billion through the Sukuk sale, according to an earlier document released from one of the banks involved in the deal. The Sukuk drew more than USD 2.4 billion in demand, and the spread was tightened from the initial price guidance on the 12th of October 2021 of around 30 bps over mid-swaps.

Details

Credit Agricole, First Abu Dhabi Bank, HSBC, the Islamic Corporation for the Development of the Private Sector, JPMorgan, KFH Capital, Natixis, SMBC Nikko and Standard Chartered wer...