Astatement issued by arranging banks yesterday revealed that the Islamic Development Bank (IDB) has appointed nine banks to arrange its possible dollar-denominated Sukuk issuance.
The AAA-rated bank has appointed CIMB, Deutsche Bank, First Gulf Bank (FGB), GIB Capital, HSBC, Maybank, Natixis Bank, National Bank of Abu Dhabi (NBAD), and Standard Chartered Bank to arrange meetings with investors in the Middle East, Europe and Asia starting Thursday, according to Reuters.
IDB, whose most recent issuances amounted to $1 billion for a five-year period, seeks to increase its Sukuk issuances to boost its position amongst international investors and receive prices similar to other development banks.
The price of IDB’s most recent issuance on July 17 was determined by a 1.8118% coupon. IDB was the underwriter for issuance.
The promotional meetings for the possible issuance will begin on Thursday in Kuala Lumpur then in Abu Dhabi and Dubai on Sunday then Northern Europe and Germany on Monday, Switzerland on Tuesday, and London on Wednesday.
The AAA-rated bank has appointed CIMB, Deutsche Bank, First Gulf Bank (FGB), GIB Capital, HSBC, Maybank, Natixis Bank, National Bank of Abu Dhabi (NBAD), and Standard Chartered Bank to arrange meetings with investors in the Middle East, Europe and Asia starting Thursday, according to Reuters.
IDB, whose most recent issuances amounted to $1 billion for a five-year period, seeks to increase its Sukuk issuances to boost its position amongst international investors and receive prices similar to other development banks.
The price of IDB’s most recent issuance on July 17 was determined by a 1.8118% coupon. IDB was the underwriter for issuance.
The promotional meetings for the possible issuance will begin on Thursday in Kuala Lumpur then in Abu Dhabi and Dubai on Sunday then Northern Europe and Germany on Monday, Switzerland on Tuesday, and London on Wednesday.
Source:
Mubasher
