UPDATE 1-Islamic Development Bank prices $800 mln 5-yr sukuk

* Sukuk size increased to $800 mln from $750 mln

* Sukuk carries profit rate of 1.357 pct

* Saudi-based IDB is rated AAA (Adds final pricing, new size)

DUBAI, June 19 (Reuters) - Saudi-based Islamic Development Bank (IDB) priced an $800 million five-year sharia-compliant bond, or sukuk, on Tuesday, lead arrangers said, in its first public debt issuance in over a year.

The size of the sukuk was increased to $800 million from $750 million at launch, indicating string demand for the sale, and the issue carries a profit rate of 1.357 percent.

The sukuk priced at a spread of 40 basis points over midswaps.

Qatar's Barwa Bank, BNP Paribas, CIMB, HSBC, NCB Capital and Standard Chartered are joint lead arrangers and bookrunners on the deal.

Abu Dhabi-based lender Al Hilal joined the deal as co-lead manager.

IDB, rated AAA, last tapped debt markets in May 2011, when it priced a $750 million five-year sukuk at a spread of 35 basis points over midswaps to yield 2.35 percent.[ID: nLDE74H1NW] (Reporting by David French; Writing by Rachna Uppal, Editing by Dinesh Nair)