Islamic Corp for Development of Private Sector announces sukuk plan

The unit of Islamic Development Bank plans to issue a fixed-rate benchmark-sized dollar-denominated sukuk, subject to market conditions

  
Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

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DUBAI - The Islamic Corporation for the Development of the Private Sector (ICD) has hired banks to arrange investor calls on Monday ahead of a planned five-year sukuk, a document showed.

The unit of Islamic Development Bank plans to issue a fixed-rate benchmark-sized dollar-denominated sukuk, subject to market conditions.

Benchmark size is traditionally understood to mean in excess of $500 million.

(Reporting by Hadeel Al Sayegh Editing by David Goodman ) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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