Sept. 8 (Bloomberg) -- Islamic Development Bank, owned by states including Egypt, Saudi Arabia and Turkey, may issue five- year Islamic bonds that may be priced to yield about 40 basis points more than the benchmark midswap rate, a banker familiar with the deal said. BNp paribas SA, HSBC Holdings plc, and Deutsche Bank AG are among the banks managing the sale, said the banker, who didnât want to be identified before the sale is completed. A basis point is 0.01 percentage point. The pricing compares with African Development Bankâs five- year bond maturing in 2014 that in May was priced to yield 50 basis points more than the benchmark mid-swap rate and was rated Aaa by Moodyâs. Both African Development Bank and Islamic Development Bank fund projects in their communities.
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