Islamic Development Bank markets five-year Islamic dollar bonds

Credit Agricole, First Abu Dhabi Bank, HSBC, the Islamic Corporation for the Development of the Private Sector, JPMorgan, KFH Capital, Natixis, SMBC Nikko and Standard Chartered are taking indications of interest and the deal is expected to launch on Wednesday

  
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  - The Jeddah-based Islamic Development Bank has given initial price guidance of around 30 basis points over mid-swaps for five-year U.S. dollar-denominated sukuk, or Islamic bond, a bank document showed on Tuesday.

Credit Agricole, First Abu Dhabi Bank, HSBC, the Islamic Corporation for the Development of the Private Sector, JPMorgan, KFH Capital, Natixis, SMBC Nikko and Standard Chartered are taking indications of interest and the deal is expected to launch on Wednesday, the document from one of the banks showed.

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


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