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World Bank-linked IFFI to price dollar sukuk on Thurs - leads

Reuters - UK Focus

DUBAI, Nov 26 (Reuters) - The International Finance Facility for Immunisation Co. (IFFI), for which the World Bank acts as treasury manager, plans to sell a dollar-denominated Islamic bond on Thursday, a document from arranging banks showed.

IFFI will look to sell a three-year sukuk of benchmark size -- traditionally understood to mean in excess of $500 million -- and will pay an interest rate between 15 basis points and 17 basis points over the three-month London interbank offered rate (Libor).

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.

IFFI is rated AA by Standard (Other OTC: SNDH - news) and Poor's and AA+ by Fitch. (Reporting by David French; Editing by Mark Potter)