The Islamic Development Bank $1.5 billion and €300 million sukuk issues

Overview:

• The Islamic Development Bank (IDB) has undertaken two sukuks (Islamic bond) via the issue of two tranches of trust certificates.
• The bank issued €300 million 0.255% certificates due 2023 and $1.5 billion certificates due 2021 on the LSE, Nasdaq-Dubai and Bursa Malaysia.
• Standard Chartered Bank, CIMB, Natixis, Boubyan Bank, Gulf International Bank, Emirates NBD Bank and JPMorgan acted as lead arrangers.

Sam Duke - Editor