King and Spalding advised the Islamic Development Bank (IDB) on a benchmark $750m sukuk that has been dual-listed on the London Stock Exchange and Bursa Malaysia. The transaction closed.
“This transaction is important because it sets a benchmark yield for IDB risk,” said Rizwan H. Kanji, a debt capital markets partner with the Middle East and Islamic finance practice of King & Spalding in Dubai, United Arab Emirates. “It also is expected to help re-energize the sukuk market after a period of relatively low issuance of sukuk.” (Press Release)