The Islamic Development Bank (IsDB), comprising 57 Member Countries across 4 continents, has raised US$ 1.6 billion with its first public Sukuk issuance of the year. The Bank, rated Aaa/AAA/AAA by S&P, Moody’s and Fitch (all with 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 3.213%, payable on a semi-annual basis. The Joint Lead Managers and Joint Bookrunners for this issuance are Citi, Dubai Islamic Bank, HSBC, KFH Capital, NATIXIS, SMBC Nikko, Société Générale, SNB Capital and Standard Chartered Bank. This is also IsDB’s first public Sukuk issuance based on the SOFR Mid-Swap benchmark, the new global benchmark rate that is being adopted by SSA issuers for pricing fixed rate instruments.
Back to top