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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Gulf General delays $300mln bond sale

Posted on 17 January 2011

From Thenational.ae: Gulf General Investment Company (GGICO) is to delay its US$300 million (Dh1.1 billion) bond sale by up to three months because the cost of issuing debt is too high, says an executive at the company.
“We’ve spoken to our bankers and they have said it is not the right timing,” said Ashish Oommen, a finance manager at GGICO. “International investors are still not on board and it’s too expensive to tap into the market now.”………………………………………Full Article: Source

 
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