Islamic Development Bank issued a $1.25 billion sukuk, marking the Saudi Arabia-based lender's first benchmark public issuance in 2018.
The five-year fixed-rate sukuk under the bank's $25 billion Trust Certificate Issuance Program was priced at par at 3.10%, at midswap plus 33 basis points, according to a March 15 statement. The sukuk is payable on a semi-annual basis.
CIMB, Citi, Emirates NBD Capital, Gulf International Bank, HSBC, Natixis, SMBC Nikko and Standard Chartered Bank acted as joint lead managers and joint book runners on the transaction.
