Apr 17 2012 |
more articles from
|
Rasameel arranges an Islamic Short Term Warehouse Finance Facility for Yusuf A. Al-Ghanim & Sons Company
Kuwait - Rasameel Structured Finance Company , a leading Kuwaiti based Islamic structured finance firm acting as lead arranger and Sukuk program manager for the first corporate MTN funding program for Yusuf A. Al-Ghanim & Sons Co., announced today that it has successfully commenced the first round of warehouse facilities, a short-term credit facility provided for the ramp-up of its new consumer electronics and furniture installment sale contracts for further securitization through a ring fenced entity, by the issuance of medium term notes (Sukuk). Sequentially, planned warehouse facilities will precede periodic Sukuk issuances in tranches and of tenors ranging anywhere between 18 to 24 months for the MTN programme.Moreover, Rasameel is also the sole mandated Structuring and Shariah Advisors for the landmark debt capital markets issuance that required innovative asset repackaging to cater to growing investor appetite for fixed income securities providing attractive returns.
Mr. Issam Al Tawari was cited saying that "This deal represents another milestone in Rasameel 's strategy of establishing its name as a regional player in the Islamic capital market despite adverse market conditions"
Mr. Thuwaini Al; Thuwaini, AVP- Deal Structuring also added that " Rasameel sees this avenue for companies to tap into an underserved Shariah compliant debt capital markets whilst providing fixed income investors a wider array of Shariah compliant investment products. This is in-line with Rasameel 's overall mandate to assist companies in the GCC region to expand and diversify their funding options" ".
Media contact:
RASAMEEL
Hassan Al Azem, SVP - Corporate Strategy & Human Capital
Tel: +965 247 8800
Fax: +965 2476600
email: halazem@rasameel.com
© Press Release 2012
© Copyright Zawya. All Rights Reserved.
Oddly Enough
- College student snares record long Burmese python near Miami
- What's in a name? U.S. starts using Myanmar as well as Burma
- Marijuana waste helps turn pot-eating pigs into tasty pork roast
- Man climbs onto dome of St Peter's to protest Italian politics
- Prague metro plans to launch love train for singles
- There's More



Post Your Comment