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Bank acted as Joint Lead Arranger and Book-runner on the successfully placed Sustainability Sukuk issuance for Islamic Development Bank (“IsDB”), rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (All stable outlook). The five year 2.5 Billion Dollar was issued with a fixed coupon rate of 1.262%. Warba Bank was appointed alongside other international financial institutions to manage the issuance which listed on Euronext Dublin, and Nasdaq Dubai under it’s US$ 20 Billion Programme.
Thuwaini Khalid Al-Thuwaini, Chief Investment Banking Group at Warba Bank said that the Sukuk issuance was successful in generating an order book reaching over US$ 2.5 Billion. We are pleased to be the only regional institution to play a lead role on this sukuk issuance for Islamic Development Bank.
Al-Thuwaini pointed out that the transaction was successfully led by Citi, Goldman Sachs International, HSBC, NATIXIS, Société Générale, Standard Chartered Bank and Warba Bank as Joint Lead Managers and Bookrunners, with Kuwait International Bank acting as a Co-manager.
Al-Thuwaini added that Warba Bank continues to support the business sector in emerging markets by providing them with financing and investment solutions that are flexible and efficient. This is based on the Bank's strategy to establish Warba Bank as a leader in the corporate and investment sector both in Kuwait and in international markets.
