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Islamic Finance Briefing - Categorized | Bonds (Sukuk), New Launches more

GACA to sell Saudi’s first sovereign and largest Sukuk ever

Posted on 16 January 2012

Saudi’s Civil Aviation Authority is about to sell the Kingdom’s first sovereign sukuk ever. Guaranteed by the Ministry of Finance, the SAR 15 billion sukuk opens room for further diversity and growth in the Saudi sukuk market.
The General Authority for Civil Aviation of Saudi Arabia (GACA) is set to sell its first ever sukuk. The issuance of this shariah compliant bond marks several milestones; it would be the first ever sovereign sukuk issued out of the Kingdom, it will be of a benchmark size, it is expected to set the benchmark for more sovereign and corporate sukuk out of the Kingdom this year, it would place Saudi Arabia on the sukuk map like it was never before………………………………………..Full Article: Source

 
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