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Saudi Arabia's Islamic Development Bank prices $1.25 bln sukuk -lead
April 5, 2017 / 12:34 PM / 8 months ago

Saudi Arabia's Islamic Development Bank prices $1.25 bln sukuk -lead

DUBAI, April 5 (Reuters) - Saudi Arabia-based Islamic Development Bank has priced at par a $1.25 billion senior unsecured five-year sukuk with a 2.393 percent profit rate, a document issued by one of the lead banks showed on Wednesday.

The triple-A rated, Jeddah-headquartered financial institution a day earlier had started marketing the sukuk with an initial price guidance in the low- to mid-40 basis points over mid-swaps range.

It set the final spreads at 40 bps over mid-swaps on Wednesday.

Joint lead banks for the sukuk are Boubyan Bank, Emirates NBD Capital, GIB Capital, Goldman Sachs International, HSBC, Maybank, Natixis, and Standard Chartered. (Reporting by Davide Barbuscia; editing by Jason Neely)

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