First published: 07-May-2026 12:35:34

Staff Writer

The Islamic Development Bank (IsDB), rated AAA by Moody’s/ S&P /Fitch (each with stable outlook), has mandated a five-year USD benchmark sukuk, with a secured overnight financing rate (SOFR) at Mid-swap +55bps area.

Bank of China, BMO Capital Markets, BNP PARIBAS, ICBC, JP Morgan, KIB Invest, Nomura, and Standard Chartered Bank will lead the issuance as joint lead managers and bookrunners.

The senior unsecured sukuk issuance will come under IsDB’s $25 billion Trust Certificate Issuance Programme.

IsDB Trust Services No.2 SARL is named issuer, with a listing expected on Euronext Dublin and Nasdaq Dubai. 

The sukuk is expected to be priced today, with a settlement date of 14 May 2026.

ICMA/FCA stabilisation rules apply.

(Writing by Bindu Rai, editing by Daniel Luiz)

bindu.rai@lseg.com

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