Friday 22 June 2018

IDB plans up to $1bn sukuk in June

Sarajevo, May 16, 2012

Saudi-based Islamic Development Bank (IDB) plans to issue $500 million to $1 billion worth of Islamic bonds or sukuk in June, the bank's chairman Ahmad Mohamed Ali said late on Tuesday.

"IDB practice is usually a five-year issue in the amount range between $500 million and $1 billion, so in June it will be in this range, as usual," Ali told Reuters in an interview.

He said the Jeddah-based operation was currently in talks with the banks that will arrange the deal that would be global, indicating the sukuk would be 144a-compliant and, therefore, open to investors from the US. - Reuters

Tags: sukuk | IDB | Islamic Development Bank |

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