November 12, 2019 / 11:23 AM / a month ago

Islamic Development Bank hires banks for green euro sukuk

DUBAI, Nov 12 (Reuters) - Jeddah-based Islamic Development Bank has appointed banks to arrange investor meetings ahead of a potential issue of euro-denominated “green” sukuk, or Islamic bonds, a document showed on Tuesday.

The triple-A rated financial institution has hired Citi, First Abu Dhabi Bank, HSBC, LBBW, Natixis, Societe Generale and Standard Charted Bank as joint lead managers and bookrunners for the deal.

Green bonds are a growing category of fixed-income securities and green sukuk could widen the appeal of Islamic bonds beyond traditional markets in Asia and the Middle East to include ethical investors in Western countries. (Reporting by Davide Barbuscia)

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