Islamic Development Bank sets spread for expected $1.5-2 bln sukuk - document

The Jeddah-based Islamic Development Bank has set the spread for a sale of five-year U.S. dollar-denominated Islamic bonds at 50 basis points over mid-swaps, a bank document showed on Thursday.

IsDB is expected to sell $1.5-2 billion in sukuk, the document from one of the banks on the deal showed, as the bonds drew more than $2.2 billion in demand.