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.
Related Articles
Saudi Arabia to launch SAR200mn investment fund to support trademark expansion globally
Saudi Arabia's National Franchise Committee is preparing to launch an investment fund with a capital of SAR200m ($53.33m) specialising in financing the global expansion of Saudi brands, Al-Eqtisadiah ... more
Saudi Arabia's BSF begins issuing dollar-denominated sukuk to strengthen bank capital
Banque Saudi Fransi (BSF) has begun issuing additional Tier 1 capital sukuk denominated in dollars, Al-Eqtisadiah reported on April 30. BSF said in a statement on Tadawul that the offering is ... more
Saudi Islamic finance contracts rise to SAR2,471.6bn by end of 2024
The value of financing contracts compliant with Islamic Sharia principles rose to SAR2,471.6bn ($659.1bn) by the end of 2024, an increase of 13% compared to 2023, Argaam reported on April ... more