This is a significant achievement of IDB’s continued efforts in positioning itself closer to its supranational peers through important investor meetings across key hubs of Asia, and Middle East. IDB’s AAA ratings, strong financial position and commitment to support the liquidity of its sukuk, were other major reasons for the placement's success.
CIMB, Dubai Islamic Bank, GIB Capital, HSBC, National Bank of Abu Dhabi, NCB Capital, Natixis, RHB Islamic Bank and Standard Chartered Bank acted as joint lead managers and joint book-runners, with the Bank of London and Middle East as co-manager.
The issue saw strong participation from investors across the Middle East, Asia and Europe with 50% allocated to MENA, 35% to Asia, and 15% to Europe. Of the issuance, 54% was allocated to central banks, 28% to other banks, 10% to fund managers and 8% to other investor types.
Dr Abdul Aziz Al Hinai, Vice President Finance, IDB, stated: “We hope that the lower cost of funding in spread terms will allow us to extend attractive financing terms to member countries towards meeting their development needs.”
The issue saw strong participation from investors across the Middle East, Asia and Europe with 50% allocated to MENA, 35% to Asia, and 15% to Europe. Of the issuance, 54% was allocated to central banks, 28% to other banks, 10% to fund managers and 8% to other investor types.
Dr Abdul Aziz Al Hinai, Vice President Finance, IDB, stated: “We hope that the lower cost of funding in spread terms will allow us to extend attractive financing terms to member countries towards meeting their development needs.”