DUBAI, Oct 19 (Reuters) – The Islamic Development Bank has given initial guidance on the prices of a five-year Islamic bond expected to be around 60 basis points above the guaranteed overnight funding rate (SOFR). ) American to five years, according to a bank document. .
BNP Paribas, Crédit Agricole, Dukhan Bank, Goldman Sachs, The Islamic Corporation for the Development of the Private Sector, JPMorgan, Mizuho, SNB Capital and Standard Chartered are co-lead managers for the sale, which is expected to be priced Thursday, according to the document.
The Jeddah-based multilateral lender last tapped the market in April, raising $1.6 billion in sukuk over five years.
New bond issues in the Gulf have fallen this year amid market volatility and rising interest rates.
But there were three flash issues on Tuesday, when benchmark rates fell slightly, as Saudi Arabia raised $5 billion with sukuk and bonds, Abu Dhabi wealth fund Mubadala raised 1 billion and Dubai’s leading bank Emirates NBD issued $500 million. (Reporting by Yousef Saba; editing by John Stonestreet)