IDB sells $1bn sukuk
Published: 02:10 PM,Oct 21,2022 | EDITED : 06:10 PM,Oct 21,2022
The Islamic Development Bank sold on Thursday $1 billion in Islamic bonds, a bank document showed. The Jeddah-based multilateral lender sold the sukuk at 62 basis points over five-year US secured overnight financing rate (SOFR) mid-swaps, tightened from initial guidance in the mid-60s bps, the document showed. The deal got more than $1.7 billion in demand, including $620 million in interest from lead managers. -- Reuters