DUBAI- The Jeddah-based Islamic Development Bank has hired a group of banks to arrange the sale of five-year U.S. dollar-denominated sukuk, or Islamic bonds, a document showed on Tuesday.
Citi, DIB, HSBC, KFH Capital , Natixis, SMBC Nikko, SNB Capital, Societe Generale and Standard Chartered will arrange investor calls starting on Tuesday, the document from one of the banks on the deal showed.
A five-year fixed-rate sukuk issuance will follow, subject to market conditions, the document said. It will be of benchmark size, which typically means at least $500 million.
(Reporting by Yousef Saba; Editing by Kirsten Donovan)