Islamic Development Bank sells $2.5 bln in sustainability sukuk

Jeddah-based Islamic Development Bank (IsDB) on Wednesday raised $2.5 billion via a five-year sustainability sukuk, or Islamic bond, at 33 basis points (bps) over mid-swaps, a document showed.

The spread tightened from initial guidance on Tuesday of 39 bps over mid-swaps after IsDB received more than $2.65 billion in orders for the sale, according to the document issued by one of the banks on the deal and seen by Reuters.

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