IsDB set to raise $1.10bln in euro green sukuk

807

Dubai

Jeddah-based Islamic Development Bank is set to raise 1 billion euro ($1.10 billion) through five-year “green” sukuk, or Islamic bonds, a document showed.
The triple-A rated financial institution is offering investors 28 basis points over mid-swaps for the debt sale.
Green bonds are a growing category of fixed-income securities, and green sukuk could widen the appeal of Islamic bonds beyond traditional markets in Asia and the Middle East to include ethical investors in Western countries.—Reuters