Live: The Islamic Development Bank issued its third public issue this year, raising EUR 500 million from global capital markets.

The bank, rated Aaa/AAA/AAA by Standard & Poor's, Moody's and Fitch (all with a stable outlook), successfully priced 5-year trust certificates under the $25 billion Trust Certificate Issuance Program, according to the Saudi Press Agency (SPA) on Friday.

The euro-denominated bond is the Bank’s second consecutive benchmark issuance this month, following a US$1.25 billion issuance three weeks ago. The proceeds from the issuance will be used for projects aligned with the Bank’s strategic objectives of (a) strengthening recovery, (b) tackling poverty and building resilience, and (c) driving green economic growth as part of its repositioned strategy.

“This is another important euro issuance for the Islamic Development Bank in a dynamic environment and we are pleased with the response from investors, especially our core investors as well as new ones,” said Dr. Zamir Iqbal, Vice President for Finance at the Islamic Development Bank.