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The Islamic Development Bank (IsDB), rated Aaa by Moody’s and AAA by S&P/Fitch (each with stable outlook), has issued a mandate for a EUR five-year green Regulation S benchmark sukuk.
Headquartered in Saudi Arabia, the 57-member financial institution has mandated Barclays, BNP PARIBAS, Commerzbank, Crédit Agricole CIB, HSBC, ING and Nomura as Joint Lead Managers and Bookrunners to arrange a series of physical fixed income investor meetings and calls in London, Paris and The Netherlands, along with virtual meetings in the week starting September 29.
The issuance will come under IsDB’s $25 billion Trust Certificate Issuance Programme and will be listed on Nasdaq Dubai and Euronext Dublin.
Formed in 1975, the multilateral development institution lists Saudi as its major shareholder, with prominent member states including the UAE, Qatar, Egypt, Kuwait, Iran, Libya, and Indonesia.
In June, IsDB mobilised $1.2 billion through a five-year benchmark sukuk, its second of the year that was preceded by a $1.75 billion raise in March.
(Writing by Bindu Rai, editing by Daniel Luiz)
