Islamic Development Bank mandates syndicate for five-year USD sukuk
Islamic Development Bank mandated a syndicate to arrange a benchmark-sized five-year USD sukuk under its $25 billion Trust Certificate Issuance Programme. IPTs set at 50bps over five-year US SOFR mid-swap; investor orders are to follow.
By Staff WriterThe Islamic Development Bank (IsDB) has mandated a syndicate of banks to arrange a new benchmark-sized five-year USD sukuk under its $25 billion Trust Certificate Issuance Programme.IPTs are set in the area of 50bps over the five-year US SOFR mid-swap rate, with investor orders being…