Islamic Development Bank Prepares for 5-Year US Dollar-Denominated Sukuk Sale

Saudi-based Islamic Development Bank (IsDB) has recruited a group of banks to oversee the sale of five-year US dollar-denominated Sukuk, or Islamic bonds, as per a document released on the 19th of April 2022.

Why it Matters?

The offering is expected to be of benchmark size, at least USD 500 million, in the form of a five-year fixed-rate Sukuk which is to be issued subject to market conditions.

Details

Investor calls for the issuance were set to begin on the 19th of April 2022, arranged by Citi, Dubai Islamic Bank (DIB), HSBC, KFH Capital, Natixis, SMBC Nikko, SNB Capital, Societe Generale, and Standard Chartered. Headquartered in Jeddah, IsDB is a multilateral development bank (MDB) that promotes social and economic developme...