IDB eyes $1.5bn sukuk issue

An Islamic Development Bank (IDB) official has said that the bank’s upcoming US dollar sukuk issue would be in the range of previous issues, between $1 billion and $1.5 billion.

The bank is still in the process of speaking with advisers, Director of Enterprise Development at the IDB, Mohamed Hedi Mejai, told a news conference in Riyadh.

He did not elaborate on a time frame for the issue. Banking sources told Reuters that the IDB had appointed eight banks to lead the transaction, including Emirates NBD, Goldman Sachs, Gulf International Bank, HSBC and Standard Chartered.

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