The Islamic Development Bank (IsDB) raised US$ 1.7 billion with its latest public Sukuk issuance of the year. The Bank, rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (all Stable Outlook), successfully priced the 5-year Trust Certificates under its US$ 25 billion Trust Certificate Issuance Program. It was priced at par with a profit rate of 1.435%, payable on a semi-annual basis. The Joint Lead Managers and Joint Bookrunners for this issuance are Credit Agricole CIB, First Abu Dhabi Bank, HSBC, JP Morgan, KFH Capital, Natixis, SNB Capital, SMBC Nikko, Standard Chartered and the Islamic Corporation for the Development of the Private Sector (ICD). The proceeds of the issuance will be utilized for the development mandate of the Bank, which also include its wide-ranging response to financing the recovery from the pandemic for its Member Countries.
Back to top