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Central Bank of Bahrain (CBB) announces that the BD 35 million monthly issue of Government Treasury Bills has been oversubscribed by 193%. Image courtesy: CBB
The Central Bank of Bahrain (CBB) has mandated a group of banks to arrange a $1.2 billion, seven-year, USD-denominated senior unsecured 144A/Regulation S Ijara/Murabaha sukuk on behalf of the government.
The sukuk, which will be listed on the London Stock Exchange’s Main Market, is set to mature on June 5, 2032, with a settlement date of December 5, 2024. It will carry a fixed coupon rate of 5.875 per cent.
Joint lead managers for the deal include Dubai Islamic Bank, First Abu Dhabi Bank, JP Morgan, KIB Invest, Mashreqbank, National Bank of Bahrain and Standard Chartered Bank.
The CBB is rated B+ by both S&P Global Ratings and Fitch Ratings, with a stable outlook.
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