Islamic Development Bank starts marketing 5yr dollar sukuk

DUBAI: The Islamic Development Bank (IsDB) has started marketing a five year dollar sukuk, or Islamic bond, a document issued by one of the banks showed.

The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area, the document showed.

IsDB has appointed Credit Agricole CIB, Emirates NBD Capital, Gulf International Bank, HSBC, JPMorgan, Natixis and Standard Chartered as joint lead managers and bookrunners.

— Reuters