Saudi-based Islamic Development Bank (IDB) issued a $500 million five-year Islamic bond, or sukuk, earlier this month, in a rare example of a privately-placed transaction from the supranational institution.
The deal was priced at 30 basis points (bps) over the three-month London interbank offered rate (Libor), according to market data, and was issued as part of the bank’s $6.5 billion sukuk program………………………………………..Full Article: Source