DUBAI, Oct 31 (Reuters) - The Islamic Development Bank (IsDB), a Jeddah-based institution, has set at 20 basis points over mid-swap the final spread it is offering investors for a planned 500 million euro ($567.55 million) issuance of sukuk, or Islamic bonds, a document by one of the banks leading the deal showed.
The triple A rated institution has received orders in excess of 650 million euro for the debt sale, which will be finalised later on Wednesday, according to the document.
IsDB is a regular issuer of international sukuk which it raises to fund its business activities and to promote the international sukuk market by building a liquid yield curve.
Credit Agricole, LBBW, Natixis and Standard Chartered are arranging the transaction. ($1 = 0.8810 euros) (Reporting by Davide Barbuscia; Editing by Alison Williams)