IsDB, Sharjah cut through sukuk slumber, tapping strong demand for Islamic product

19 May 2011

The Islamic Development Bank and Sharjah Islamic Bank revived international sukuk debt this week with a pair of notes that marked the slumbering sector’s first deals since January, its first from a financial institution all year and its first from Sharjah in five years.

Despite the lack of momentum and a 50% increase in deal size, IsDB achieved a pricing landmark on its $750m five year via BNP Paribas, Deutsche Bank, HSBC and Standard Chartered.

"The spread on the note was the tightest ever achieved on a public transaction for the bank, in ...

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