Islamic Development Bank markets 5-year dollar sukuk - document

The bank gave an initial price guidance of 70 basis points over midswaps for the Islamic bonds

  
The Logo of the Islamic Development Bank Group is seen at entrance of the bank in Jeddah, Saudi Arabia May 31, 2018. REUTERS/Reem Baeshen

The Logo of the Islamic Development Bank Group is seen at entrance of the bank in Jeddah, Saudi Arabia May 31, 2018. REUTERS/Reem Baeshen

DUBAI - Jeddah-based Islamic Development Bank began marketing five-year U.S. dollar-denominated sukuk on Wednesday, a document showed.

It gave an initial price guidance of 70 basis points over midswaps for the Islamic bonds, the document from one of the banks arranging the deal showed. The deal is expected to close on Thursday.

(Reporting by Yousef Saba; Editing by Alex Richardson) ((Yousef.Saba@thomsonreuters.com; +971562166204))

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