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Islamic Development Bank prices $1.25 bln sukuk with 2.26 percent profit rate - leads
November 29, 2016 / 10:11 AM / a year ago

Islamic Development Bank prices $1.25 bln sukuk with 2.26 percent profit rate - leads

DUBAI, Nov 30 (Reuters) - The Islamic Development Bank (IBD) has priced at par a $1.25 billion sukuk with a 2.263 percent profit rate and a five-year term, according to a document issued by the banks arranging the transaction seen by Reuters.

The triple A rated multilateral bank, based in Jeddah, had set final pricing guidance at 45 basis points over mid-swaps earlier on Wednesday.

Boubyan Bank, Credit Agricole, Gulf International Bank, JP Morgan, Mizuho, Natixis, NBAD, RHB and Standard Chartered arranged the Islamic debt sale. (Reporting by Davide Barbuscia, editing by Louise Heavens)

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