VOL. XLVI
No 32
11-August-2003
CAPITAL MARKETS
IDB Launches $400Mn Sukuk Bond
The Islamic Development Bank (IDB) announced the launch on 29 July of a $400mn Islamic sukuk bond, increasing the offering from the originally targeted $300mn due to strong demand from the Middle East, Asia and Europe. The transaction was priced to yield 3.738%, equivalent to a margin of 16 bps over the five-year mid swap rate, at the tighter end of the indicated pricing range of 15-20 bps. Citigroup acted as ratings...
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