Moody’s Middle East Limited has assigned an A1 rating, with stable outlook, to the upcoming senior sukuk trust certificates of HSBC Middle East Limited (HBME) (Jersey), that will be issued under a USD5 billion Trust Certificate Issuance Programme. The rating is subject to review of the final terms of the sukuk trust certificate issuance.
Accordingly, a special purpose entity, HBME Sukuk Company Ltd, (issuer) incorporated in the Cayman Islands, will issue sukuk certificates to investors (sukuk holders), use the proceeds to acquire an interest in a portfolio of assets comprising primarily Ijara, Murabaha and Musataha contracts from HBME (Trust assets)……………………………………….Full Article: Source