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|16 April, 2019

Islamic Development Bank starts marketing 5 year dollar sukuk -document

The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area

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 Islamic Development Bank (IsDB) has started marketing a five year dollar sukuk, or Islamic bond, a document issued by one of the banks showed.

The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area, the document showed.

IsDB has appointed Credit Agricole CIB, Emirates NBD Capital, Gulf International Bank, HSBC, JPMorgan, Natixis and Standard Chartered as joint lead managers and bookrunners.

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(Reporting by Davide Barbuscia, writing by Hadeel Al Sayegh; Editing by Kirsten Donovan) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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