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Groundbreaking SOFR-linked Sukuk Issued by the Islamic Development Bank
26 Apr 2021 | Monday Source: IsDB
The Islamic Development Bank (IsDB - the Bank) has issued its first-ever Secured Overnight Financing Rate (SOFR)-linked Sukuk in the global capital markets.
The Bank, rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (all stable outlook), successfully closed the debut SOFR-linked issuance, its second Sukuk of the year, under its recently updated US$ 25 billion Trust Certificate Issuance Programme, which now incorporates various new risk-free rate mechanics.
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