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

Kazakh Development Bank swaps ringgit Sukuk proceeds to dollars

Posted on 17 August 2012

Development Bank of Kazakhstan JSC, which issued the country’s first ringgit-denominated bond, swapped the proceeds from the sale into U.S. dollars.
The 240 million-ringgit ($76.7 million) five-year murabaha Islamic note, which was priced to yield 5.5 percent, was swapped into $76 million at a 4.95 percent yield as part of an agreement with Royal Bank of Scotland Group Plc, the Astana-based bank said. The swap comes due in August 2017, according to the state-owned lender………………………………………..Full Article: Source

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