The Islamic Development Bank (IsDB) has raised $1.75bn through a benchmark sukuk issuance in the capital markets, its first this year, Saudi Press Agency reported on March 16.
The bank priced the five-year trust certificates under its $25bn trust certificate issuance programme. Proceeds from this issuance will support projects driving social and economic growth across its 57 member countries, aligning with the bank's three objectives: enhancing economic recovery, addressing poverty and building resilience, and driving green economic growth.
IsDB holds Aaa/AAA/AAA ratings from Standard & Poor's, Moody's, and Fitch, all with stable outlooks.
Last year, the bank conducted three benchmark issuances across the euro and US dollar markets. The bank has now exceeded $50bn in total sukuk issuances since it began issuing in 2003.
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