Islamic Development Bank eyes Thursday for sukuk pricing, guidance given

The Islamic Development Bank is aiming to price a U.S. dollar-denominated sukuk of benchmark size and five years duration on Thursday, after releasing initial price guidance for the issue. The Jeddah-based institution is targeting pricing in the area of 15 basis points over midswaps. The IDB was due to wrap up a series of investor meetings on Wednesday after announcing last week it had chosen banks to arrange roadshows ahead of a potential deal. The AAA-rated IDB chose CIMB, Deutsche Bank, First Gulf Bank, GIB Capital, HSBC, Maybank, Natixis, National Bank of Abu Dhabi, and Standard Chartered as arrangers.