JEDDAH, March 5 (KUNA) --
The Islamic Development Bank (IDB) has announced a five-year sukuk issuance of
USD 1.5 billion, with annual revenue of 1.775 percent, the IDB said on Saturday.
The move is part of the IDB's mid-term sukuk issuance program, which
hits a total of USD 25 billion, the IDB added in the statement.
The issuance was arranged by Emirates NBD Capital, Boubyan Bank, Gulf
International Bank CIMB, JP Morgan, Natixis and Standard Chartered. It will be
listed in the London, Malaysia and Nasdaq Dubai stock exchanges.
A senior IDB official expressed pleasure over the issuance that follows
previous ones which realized success, anda record profit margin for the sukuk.
Buying orders started on Wednesday, March 2, as soon as official pricing
was announced, 50-55 basic points.
It was earlier announced that the orders were worth more than USD 1.5
billion from investors, of which USD 243.8 million came from the joint lead
arrangers and related parties. (end)
(Kuwait News Agency / 05 March 2016)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com
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