Saudi-based Islamic Development Bank, or IDB, said late Monday it issued a $750 million five-year, benchmark sukuk with a price guidance of 35 basis points over mid-swaps.
The lender didn’t specify the joint lead managers for the dollar-denominated sukuk, but one of the banks leading the sale told Dow Jones that BNP Paribas SA, Deutsche Bank AG, HSBC Holdings PLC and Standard Chartered Bank were joint bookrunners on the transaction. The issuance matures May 25, 2016, and has a profit rate of 2.35%……………………………………….Full Article: Source