October 31, 2018 / 1:35 PM / 18 days ago

Islamic Development Bank sets size for sukuk at 650 million euro - document

DUBAI, Oct 31 (Reuters) - The Jeddah-based Islamic Development Bank (IsDB) has set the size of a planned sukuk issue at 650 million euro, a document from one of the banks arranging the deal showed.

The triple-A rated institution was targeting a 500 million euro issue when it started marketing the deal earlier on Wednesday.

The five-year sukuk, or Islamic bonds - which IsDB issues to fund itself and to develop the sukuk market - will offer investors 20 basis points over mid-swaps, according to the bank document. (Reporting by Davide Barbuscia; Editing by Janet Lawrence)

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