April 17, 2019 / 2:03 PM / 3 months ago

Islamic Development Bank set to raise $1.5 bln in five-year sukuk

DUBAI, April 17 (Reuters) - The Islamic Development Bank (IsDB) is set to raise $1.5 billion with five-year sukuk, or Islamic bonds, a document issued by one of the banks leading the deal showed.

The Jeddah-based triple A-rated institution’s notes offer 40 basis points over mid-swaps to investors.

Credit Agricole CIB, Emirates NBD Capital , First Abu Dhabi Bank, Gulf International Bank, HSBC, JPMorgan, Natixis and Standard Chartered were joint lead managers. (Reporting by Davide Barbuscia; Editing by Kirsten Donovan)

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