Islamic Corp for the Development of the Private Sector sells $600mln sukuk

Demand topped $1bln

  
Image used for illustrative purpose.

Image used for illustrative purpose.

Getty Images

DUBAI- The Islamic Corporation for the Development of the Private Sector, part of Jeddah-based Islamic Development Bank Group, sold $600 million in sukuk on Wednesday, a document showed.

The Islamic bonds offered investors a profit rate equivalent to 140 basis points over mid-swaps, down by about 20 basis points from where they were marketed earlier on Wednesday.

Demand topped $1 billion, the document showed.

(Reporting by Davide Barbuscia; editing by Jason Neely) ((Davide.Barbuscia@thomsonreuters.com; +971522604297; Reuters Messaging: davide.barbuscia.reuters.com@reuters.net))

More From Markets