The Islamic Development Bank, a Jeddah-based multilateral lender, has picked banks to organise investor meetings for the sale of a 5-year sukuk, fixed income news service IFR reported on Monday.

It has selected Abu Dhabi Commercial Bank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC, J.P. Morgan, Societe Generale and Standard Chartered Bank as joint lead managers and bookrunners to arrange investor meetings starting Oct. 31, according to IFR.

The lender plans to issue a benchmark-sized euro-denominated 5-year Islamic bond, under a $25 billion Trust Certificate Issuance Program, if market conditions permit, IFR said.

(Reporting by Mohammad Edrees; Editing by Alison Williams)