Islamic Development Bank sold on Thursday $1.6 billion in five-year sukuk, or Islamic bonds, at 50 basis points.
(Reuters) - The Jeddah-based Islamic Development Bank sold on Thursday $1.6 billion in five-year sukuk, or Islamic bonds, at 50 basis points over mid-swaps, a bank document showed.
The spread was tightened from initial price guidance on Wednesday of around 60 bps over mid-swaps after the bonds drew more than $2.2 billion in demand.
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