Saudi Islamic Development Bank Prices US$ 800 Mln Sukuk
Published Wednesday, 20 June 2012 17:36 | Written by Amwal Al Ghad
The size of the sukuk was increased to US$800 million from US$750 million at launch, indicating string demand for the sale, and the issue carries a profit rate of 1.357 percent.
The sukuk priced at a spread of 40 basis points over mid-swaps.
Qatar's Barwa Bank, BNP Paribas, CIMB, HSBC, NCB Capital and Standard Chartered are joint lead arrangers and book-runners on the deal.
Related newsAbu Dhabi-based lender Al Hilal joined the deal as co-lead manager.
IDB, rated AAA, last tapped debt markets in May 2011, when it priced a US$750 million five-year sukuk at a spread of 35 basis points over mid-swaps to yield 2.35 percent, Reuters reported.
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