DUBAI, May 29 (Reuters) - Islamic Development Bank (IsDB), a Jeddah-based multilateral institution, has set revised price guidance for a five-year Islamic bond, which could raise $1 billion, with pricing due later on Wednesday.

Final guidance for the sukuk was set at a spread of 30 basis points over midswaps, arranging banks said, after order books for the deal reached just under $1.5 billion ahead of launch.

Early price talk was released at a spread in the high 30 bps over midswaps on Tuesday.

The AAA-rated bank, whose largest shareholder is Saudi Arabia, has said it aims to raise $1 billion from the sukuk. It has more than tripled its authorised capital to $150 billion to better support development projects in its 56 member nations.

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Banks arranging the sukuk are Qatar's Barwa Bank, Credit Agricole CAGR.PA , CIMB CIMB.KL , National Bank of Abu Dhabi

NBAD.AD , Natixis CNAT.PA , NCB Capital - the investment banking arm of Saudi's National Commercial Bank NCMBK.UL , Royal Bank of Scotland RBS.L and Standard Chartered STAN.L .

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(Reporting by Rachna Uppal; Editing by Dinesh Nair)

((rachna.uppal@thomsonreuters.com)(+971 4 366 4240)(Reuters Messaging: rachna.uppal.reuters.com@reuters.net))

Keywords: SAUDI ISDB SUKUK/