Nasdaq Dubai has announced the listing of 500 million dollars in Trust Certificates (sukuk) issued by ICDPS Sukuk Limited, guaranteed by the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group. The sukuk, rated A2 (Stable) by Moody’s, A (Stable) by S&P , and A+ (Stable) by Fitch, was priced at 65 basis points over US Treasuries, offering a profit rate of 4.391 percent, payable semi-annually.
The five-year Reg S senior unsecured sukuk, maturing in 2030, attracted strong investor interest, with order books surpassing 2 billion dollars (excluding joint lead manager participation). The robust demand reflects investor confidence in ICD’s financial stability and its role in promoting private sector development across member countries.
The sukuk was issued under the ICDPS Sukuk Limited Trust Certificate Issuance Programme. Al Rayan Investment, Bank ABC, Dubai Islamic Bank, GIB Capital, HSBC Bank , KFH Capital, JP Morgan , Sharjah Islamic Bank, Standard Chartered Bank , and Warba Bank acted as Joint Lead Managers and Bookrunners for the transaction.
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