IslamicFinance.de

Jeddah-based Islamic Development Bank (IDB) has invited banks to pitch for roles in arranging a potential dollar-denominated sukuk, sources familiar with the matter said on Thursday. The AAA-rated IDB is planning a benchmark-sized sukuk offering in the first quarter. IDB was not immediately available for comment. IDB, which last issued a $1 billion five-year Islamic bond in March, is looking to increase its issuance of sukuk, partly to raise its profile among international investors and to secure similar pricing levels to other development banks.