Ministry of Finance has successfully issued a tranche of Sharia Compliant Sukuk, achieving oversubscription by more than 6.5 times.
"Ministry of Finance has succeeded in issuing a tranche of Sukuk (Sharia-compliant) worth US$ 1.75 billion with a 9-year maturity, as part of funding process incorporated in the Government's plan to fund financial needs of 2021, which maintains a disciplined public-debt profile."
The bonds that received high demand from international investors and investment institutions were oversubscribed by more than 6.5 times. The bid totaled more than US$ billion.
Highlights
Lower interest rates of the issued Sukuk as compared to the previous issuance.
An interest rate of 4.875%.
Investors from Gulf, Asian, European, and American markets.
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