World Bank-linked IFFI to price dollar sukuk on Thurs - leads

26/11/2014 Reuters

Nov 26 (Reuters) - The International Finance Facility for Immunisation Co. (IFFI), for which the World Bank acts as treasury manager, plans to sell a dollar-denominated Islamic bond on Thursday, a document from arranging banks showed.

IFFI will look to sell a three-year sukuk of benchmark size -- traditionally understood to mean in excess of $500 million -- and will pay an interest rate between 15 basis points and 17 basis points over the three-month London interbank offered rate (Libor).

Qatar's Barwa Bank, Malaysia's CIMB, National Bank of Abu Dhabi, the investment banking arm of Saudi Arabia's National Commercial Bank, and Standard Chartered are arranging the transaction.

IFFI is rated AA by Standard and Poor's and AA+ by Fitch. (Reporting by David French; Editing by Mark Potter)

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.