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