IslamicFinance.de

Islamic Development Bank (IDB) issued $1 billion in five-year Islamic bonds, or sukuk, earlier this month, the largest ever privately-placed transaction from the supranational institution. The sukuk was priced on July 17 and carried a 1.8118 percent coupon at issue, underwritten by the IDB itself. The deal follows a $100 million three-year private placement in April and a $1.5 billion five-year sukuk in February, the largest ever public issuance from the multilateral lender. IDB usually prints one public transaction a year, with plans to issue a benchmark-sized - around $500 million - sukuk around May of next year.