The Islamic Development Bank’s (IDB) Trust Certificates are being listed on the London Stock Exchange and Bursa Malaysia. Despite the volatile economic environment around the world, IDB achieved both a larger deal size and tighter pricing, with the deal pricing 3bps inside secondary market levels
“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.”………………………………………Full Article: Source