IFC achieves tightest spread ever in sukuks

The International Finance Corp (IFC) priced a $100m five year sukuk on Monday (October 26), achieving a tight spread of 15bp over mid-swaps, 25bp tighter than anything achieved to date in the sukuk market and around 10bp wider than where an IFC five year global would be priced.

  • 30 Oct 2009

The tightest previous deal was for the triple-A rated Islamic Development Bank, which paid mid-swaps plus 40bp for its $100m five issued at the beginning of September.

Nina Shapiro, IFC’s vice president and treasurer, said the deal was the culmination of a three year effort to build up a ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
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3 Citi 13,795.56 24 8.41%
4 HSBC 11,845.99 17 7.22%
5 BNP Paribas 10,802.75 16 6.58%

Dollar Denominated SSA (Excl US Agency)

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3 HSBC 28,343.59 71 8.44%
4 Bank of America Merrill Lynch 27,301.17 79 8.13%
5 Goldman Sachs 24,436.35 54 7.28%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 35,330.71 93 8.02%
2 HSBC 31,785.95 112 7.22%
3 Barclays 31,737.51 60 7.21%
4 UniCredit 30,928.85 82 7.02%
5 BNP Paribas 27,077.42 66 6.15%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 77,113.86 440 6.89%
2 Citi 75,996.41 275 6.79%
3 HSBC 71,702.97 280 6.41%
4 Barclays 59,526.84 228 5.32%
5 Deutsche Bank 51,764.72 162 4.62%