London Stock Exchange welcomes Islamic Development Bank Sukuk bond – largest issuance by a supranational in 2017

  • Islamic Development Bank’s 5-year dated Sukuk raises $1.25 bn, with 2.393 per cent annual yield
  • Offer receives strong international investor demand
  • Confirms London Stock Exchange’s position as leading international listing venue for Islamic finance

London Stock Exchange today welcomes the largest Sukuk bond to be issued by a supranational globally in 2017, raising $1.25bn. Listed by Saudi Arabia based, triple-A rated, Islamic Development Bank, it is a five-year bond with a 2.393 per cent yield and reinforces London’s position as a key global venue for Islamic finance. To date nearly $50 billion has been raised through 66 Sukuk issues on London Stock Exchange.  The Islamic Development Bank is a long-standing London Stock Exchange issuer.

Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Development, London Stock Exchange Group:
“The UK was the first country in the Western world to ever launch a Sukuk bond and London Stock Exchange is today delighted and honoured to list the largest ever Sukuk bond by a supranational so far this year – an issue which received strong international investor demand.

“Today’s listing demonstrates London’s standing as the world’s most international financial centre and confirms the UK as the key destination for foreign Shariah-compliant financial products and institutions.  The diverse geographical distribution shows London provides access to a truly global, deep, and liquid investor pool.”

Dr. Ahmet Tiktik, Vice President Finance & CFO, Islamic Development Bank:
“Our choice of London as the location to list our new $1.25bn Sukuk is driven by the continuous support that London Stock Exchange has for both the Islamic Development Bank and for Islamic Finance. We look forward to continuing this partnership in developing Islamic Finance.”

This listing adds to the broad range of Islamic finance products available to investors on London Stock Exchange, reflecting our commitment to being the largest western hub for Sukuk bond issuance. 

London Stock Exchange also has a vibrant market in Exchange Traded Funds (ETFs) including three Shariah-compliant ETFs based on Islamic indexes.  Our Group’s FTSE Shariah Global Equity Index Series has been designed to be used as the basis for Shariah-compliant investment products that meet the requirements of Islamic investors globally while our Russell-Ideal Ratings Islamic Index offers investors an accurate and complete global-equity market index that reflects established Shariah investment guidelines.

Over 20 banks offer Islamic financial services in the UK.

Further information about Sukuk bonds and London Stock Exchange can be found at: Sukuk

- Ends -

More recent

London Stock Exchange raises most IPO funding since 2007, marking a strong year for LSEG Capital Markets

The London Stock Exchange is the number one exchange in Europe, raising more equity capital than the Amsterdam and Paris exchanges combined, and the most equity capital raised outside of the US and Greater China Tech & consumer internet businesses led primary market issuance in 2021 with 39% of IPO capital raised Hambro Perks Acquisition Co became the first SPAC to list in London in Nov

Learn more
LSEG announces new CEO of London Stock Exchange plc

London Stock Exchange Group plc (“LSEG”, “the Group”) today announces that Julia Hoggett has been appointed as CEO of London Stock Exchange plc, a regulated subsidiary of LSEG. She will report to Murray Roos, Group Director, Capital Markets, LSEG and will start her position next year. Denzil Jenkins will continue as interim CEO of London Stock Exchange plc until Julia joins the Group to ensure

Learn more
Shanghai-London Stock Connect welcomes China Yangtze Power Co.

To view the announcement in Chinese, please download the PDF.

China Yangtze Power Co. raises US$1.83 billion through a global offering of GDRs listed on London Stock Exchange through Shanghai-London Stock Connect and traded on the Shanghai Segment of London

Learn more
Shanghai-London Stock Connect welcomes China Pacific Insurance (Group) Co., Ltd.

CPIC raises US$1.8 billion (prior to any exercise of the over-allotment option) / US$2.0 billion (assuming full exercise of the over-allotment option) through listing of GDRs in London on the Shanghai-London Stock Connect Segment (Shanghai Segment) of London Stock Exchange Largest capital raise via an admission to London Stock Exchange in 2020 to date CPIC has been admitted to trading on th

Learn more