IsDB ups sukuk to $800m, prices at mid-guidance
The Islamic Development Bank (IsDB) has priced an $800m five-year sukuk today at 40bp over mid-swaps – the midpoint of its earlier 35bp-45bp guidance. The size of the deal was increased from $750m.
The profit rate on the triple-A rated notes is 1.357%, with a spread of 66.76bp over treasuries. Bankers managing the sale moved swiftly from allocation to pricing at par, around midday UK time.The Saudi-based issuer opened books for its deal last Friday for the dollar Reg-S deal. Last ...
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