Islamic Development Bank sets IPT for benchmark dollar sukuk -leads

Jeddah-based Islamic Development Bank (IDB) has opened books after setting initial price thoughts for a potential dollar-denominated sukuk, which could price as early as Thursday, a document from lead arrangers showed. IDB has set initial price thoughts for the senior unsecured five-year sukuk issue at around 10 basis points over midswaps, the document showed. The AAA-rated IDB on Feb. 24 said it had picked CIMB, Dubai Islamic Bank, GIB Capital, HSBC, Natixis, NCB Capital, National Bank of Abu Dhabi, RHB Islamic Bank and Standard Chartered to arrange roadshows in the Middle East and Asia. The roadshows will continue until Thursday, the document showed.