Maldives tops up April Islamic bond sale with another $200mln

Credit Suisse, Emirates NBD Capital, HSBC, the Islamic Corporation for the Development of the Private Sector, JPMorgan and Standard Chartered are arranging the deal

  
U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

U.S. currency is seen in this picture illustration taken March 6, 2020. Image used for illustrative purpose

REUTERS/Mike Segar/Illustration

DUBAI - The government of the Maldives launched $200 million in a tap of existing sukuk, or Islamic bonds - reopening them for subscription to raise more cash - at 10.5%, a bank document showed on Thursday.

Maldives raised $300 million via sukuk in April. They are due in 2026 and were sold at 9.875%.

It has now returned to the market to tap that transaction - reopening it for subscription using the same documentation as before.

Credit Suisse , Emirates NBD Capital, HSBC, the Islamic Corporation for the Development of the Private Sector (ICD), JPMorgan and Standard Chartered are arranging the deal.

(Reporting by Yousef Saba; Editing by Kim Coghill and Alex Richardson) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))


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