BAKU, Azerbaijan, October 13. The Islamic Development Bank (IsDB) has successfully raised EUR 500 million through its latest Green benchmark Sukuk issuance under its enhanced 2025 Sustainable Finance Framework, Trend reports via the IsDB.
The 5-year Trust Certificates were priced under IsDB’s US$25 billion Trust Certificate Issuance Program. The Bank, rated Aaa/AAA/AAA by S&P Global Ratings, Moody’s Investors Service and Fitch Ratings (all with Stable Outlook), appointed Barclays, BNP Paribas, Commerzbank, Crédit Agricole CIB, HSBC Bank plc, ING and Nomura as Joint Lead Managers.
This issuance marks IsDB’s first EUR benchmark transaction in 2025 and follows two successful USD benchmark issuances earlier this year, which together raised approximately USD 3.5 billion. With this transaction, the Bank has completed its 2025 funding program.
The latest Green Sukuk — IsDB’s second to date — represents a key milestone in the Bank’s presence in the EUR markets, positioning it as a potential frequent EUR issuer. The issuance attracted a record-breaking orderbook, oversubscribed five times, and drew the largest number of investors to date for the Bank. This strong demand reflects both the robust appetite for AAA-rated assets and IsDB’s active engagement with European investors in recent months.
Proceeds from the EUR 500 million issuance will be used to finance and refinance eligible projects with environmental benefits in line with the ‘Green Project categories’ defined under the Bank’s Sustainable Finance Framework.