IFC sets final spread for $100m 5-year sukuk
DUBAI, September 9, 2015
International Finance Corp (IFC), a unit of the World Bank, has set final spread for its $100 million sukuk, which is expected to be priced later today (September 9), a document from lead arrangers showed.
The final price guidance for the five-year floating rate note remains unchanged at six-month Libor minus 10 basis points, the document showed.
The average life of the bond - the average time before the principal is expected to be repaid - is 3.75 years.
The wakala sukuk, in which one party acts as an agent managing assets for another, is being arranged by Dubai Islamic Bank, HSBC, National Bank of Abu Dhabi and Standard Chartered. - Reuters
