World Bank-linked IFFI launches $500 mln 3-yr FRN sukuk - leads
DUBAI, Nov 27 (Reuters) - The International Finance Facility for Immunisation Co. (IFFI), for which the World Bank acts as treasury manager, has launched a $500 million Islamic bond issue, a document from arranging banks said on Thursday.
The three-year sharia-compliant floating rate note is set to price at 15 basis points over the three-month London interbank offered rate, the document showed. This is at the tight end of price guidance issued on Wednesday.
Orders worth more than $700 million were placed by investors, the document added.
Qatar's Barwa Bank, Malaysia's CIMB, National Bank (NYSE: NBHC - news) of Abu Dhabi, the investment banking arm of Saudi Arabia's National Commercial Bank, and Standard Chartered are arranging the transaction. (Reporting by David French; Editing by Olzhas Auyezov)