Islamic Development Bank Issues USD 1.6 Billion 5-Year Sukuk, First Offering of 2022

Islamic Development Bank Issues USD 1.6 Billion 5-Year Sukuk, First Offering of 2022

https://islamicmarkets.com/articles/islamic-development-bank-issues-usd-1-6-billion-5-year-sukuk-first
Copy URL

The Islamic Development Bank (IsDB) has announced the sale of USD 1.6 billion 5-year Sukuk under its USD 25 billion Trust Certificate Issuance Programme on the 21st of April 2022.

Why it Matters?

The issuance marks IsDB’s first public Sukuk issuance of 2022 as well as its first public Sukuk issuance based on the Secured Overnight Financing Rate (SOFR) Mid-Swap benchmark. The Sukuk proceeds will be used to fund initiatives in IsDB member countries that address poverty alleviation, human development, sustainable agriculture, transportation, education, health and water infrastructure, climate action, and other issues. In addition to activities aimed at assisting member countries in their recovery from the pandemic.

Details...