Thursday, Jun 07, 2012
(This story was originally published Wednesday.)
DUBAI (Zawya Dow Jones)--Islamic Development Bank has picked five banks to arrange roadshows that could lead to the potential issuance of an Islamic bond, or sukuk, if market conditions allow, a person familiar with the matter said Wednesday.
The pan-regional lender, rated AAA by the major ratings agencies, mandated BNP Paribas, CIMB, HSBC, National Commercial Bank and Standard Chartered as joint lead managers and bookrunners for a potential dollar-denominated regulation S sukuk offering.
The first investors meeting will take place in Riyadh on June 10, then in Kuala Lumpur on June 12, Singapore on June 13 and finally in London on June 18.
IDB's President Ahmad Mohammed Ali in May said the lender was planning to soon issue sukuk to take advantage of increasing demand. It raised $750 million by issuing a 5-year sukuk last year.
-By Nicolas Parasie, Dow Jones Newswires, +9714 446 1681, nicolas.parasie@dowjones.com; Twitter: @ZDJnews
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
07-06-12 0336GMT
