A document showed on Monday that the Islamic Development Bank, a multilateral bank based in Jeddah, appointed banks to arrange the sale of five-year dollar-denominated sukuk.
According to the document seen by Reuters, BNP Paribas, Citi, Dukhan Bank, Emirates NBD Capital, HSBC, the Islamic Corporation for the Development of the Private Sector, SMBC Nikko, Societe Generale and Standard Chartered were selected. As joint lead managers and bookrunners in the sale of sukuk, which is subject to market conditions.
In October 2022, the Islamic Development Bank sold Islamic bonds “sukuk” worth one billion dollars.
The bank sold the sukuk at 62 basis points above the five-year average US overnight guaranteed financing rate, down from an initial guidance price of 65 basis points.
The deal has raised more than $1.7 billion in orders, including orders worth $620 million from the principals involved in the process.