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18 Feb | Tuesday
Islamic Development Bank picks banks for potential sukuk



DUBAI, Feb 18 (Reuters) - Islamic Development Bank


Href="NewsSearch">ISDBA.UL (IDB) has picked seven banks to arrange meetings with fixed income investors ahead of a potential sukuk issue, a document from lead managers said on Tuesday.

IDB will hold roadshows in the Middle East and Asia commencing February 23, with a dollar-denominated Islamic bond to follow subject to market conditions, the document said.

The banks arranging the meetings are CIMB
Href="QuoteRef">CIMB.KL , Commerzbank
Href="QuoteRef">CBKG.DE , First Gulf Bank
Href="QuoteRef">FGB.AD , HSBC
Href="QuoteRef">HSBA.L , Natixis
Href="QuoteRef">CNAT.PA , National Bank of Abu Dhabi
Href="QuoteRef">NBAD.AD and Standard Chartered
Href="QuoteRef">STAN.L .

The AAA-rated bank last sold a sukuk in May, when it priced a $1 billion five-year Islamic bond with a profit rate of 1.535 percent. ID:nL3N0EA2NF

(Reporting by Abhinav Ramnarayan; Writing by David French; Editing by Olzhas Auyezov)

((davidj.french@thomsonreuters.com)(+971 4 362 5864)(Reuters Messaging: davidj.french.thomsonreuters.com@reuters.net))

Keywords: IDB SUKUK



source: reuters.com
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