The Islamic Development Bank (IsDB) has raised $1.75bn through a benchmark sukuk issuance in the capital markets, its first this year, Saudi Press Agency reported on March 16.
The bank priced the five-year trust certificates under its $25bn trust certificate issuance programme. Proceeds from this issuance will support projects driving social and economic growth across its 57 member countries, aligning with the bank's three objectives: enhancing economic recovery, addressing poverty and building resilience, and driving green economic growth.
IsDB holds Aaa/AAA/AAA ratings from Standard & Poor's, Moody's, and Fitch, all with stable outlooks.
Last year, the bank conducted three benchmark issuances across the euro and US dollar markets. The bank has now exceeded $50bn in total sukuk issuances since it began issuing in 2003.
The Lebanese government has completed preparations for cooperation agreements with Saudi Arabia that President Joseph Aoun will sign during an expected visit to the kingdom next month. A total of ... more
Saudi Aramco has reduced crude oil prices for Asian buyers for April following the decision by OPEC+ to increase oil supply this month, according to Arab News. The decision to lower prices aligns ... more
Aramco's lower dividend payouts announced for 2025 are broadly in line with Fitch Ratings' forecast when it affirmed Saudi Arabia's rating at 'A+'/Stable in January, and will widen the budget deficit ... more