Islamic Development Bank hires banks for dollar sustainability sukuk - document

Citi, HSBC, Goldman Sachs, Natixis, Societe Generale, Standard Chartered and Warba Bank will arrange investor calls starting on Monday

  
An engraved logo of the Islamic Development Bank Group is seen at the door of the bank in Jeddah, Saudi Arabia May 31, 2018.

An engraved logo of the Islamic Development Bank Group is seen at the door of the bank in Jeddah, Saudi Arabia May 31, 2018.

REUTERS/Reem Baeshen

DUBAI  - Jeddah-based Islamic Development Bank has hired a group of banks to arrange an issuance of five-year U.S. dollar denominated sustainability sukuk, or Islamic bonds, a document showed on Monday.

Citi, HSBC, Goldman Sachs, Natixis, Societe Generale, Standard Chartered and Warba Bank will arrange investor calls starting on Monday, the document from one of the banks showed.

A benchmark issuance, which usually means at least $500 million, will follow, subject to market conditions.

(Reporting by Yousef Saba; Editing by Alison Williams) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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