IDB announces volume of borrowing within Medium-Term Note Program
Baku, Fineko/abc.az. The Islamic Development Bank announced that Standard & Poors, Fitch Ratings and Moody’s have all reaffirmed recently their highest issuer rating “AAA” to the IDB’s enlarged US$6.5 billion Trust Certificate Issuance “Sukuk” Program and the $800 million issuance in June 2012.
IDB President Ahmed Mohamed Ali emphasized in this connection that the Bank is continuously expanding the extent of its interventions in member countries with total funding exceeding $8.3 billion; and its overall financing is expected to increase given the huge demand especially from the MENA countries (Middle East and North Africa).
“IDB is always looking at new ways of resource mobilization and plans to issue regular annual sukuk tranches ranging from $500 million to $1.5 billion under its Medium Term Note program. This is to leverage the Bank’s ‘AAA’ rating to mobilize funds on reasonable terms from the market for the benefit of our member countries,” he added.
Copyright ABC.az All rights reserved.
Link for FINEKO Analytic & Informational Agency and ABC.AZ is obliged using the websites material.
ru / en