IsDB launches €1bn Green Sukuk
The Islamic Development Bank (IsDB) has priced its first-ever Green Sukuk worth €1 billion.
The lender raised €1 billion in five-year Trust Certificates under its $25 billion Trust Certificate Issuance Programme. The Sukuk was priced at par with a profit rate of 0.037%, to be payable on annual basis, making it the lowest ever profit rate for a euro issuance by the bank.
Joint lead managers and joint bookrunners were Citi, First Abu Dhabi Bank, HSBC, Landesbank Baden-Württemberg, Natixis, Société Générale, Warba Bank, and Standard Chartered Bank.
Proceeds will be used by IsDB towards a range of climate-change and green projects in its 57-member countries. These include projects for renewable energy, clean transportation, energy efficiency, pollution prevention and control, environmentally sustainable management of natural living resources and land use and sustainable water and wastewater management.
