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

Transnet eyes issue of sukuk, samurai bonds

Posted on 22 April 2013

Transnet, the transport parastatal, is seeking to cut borrowing costs in an R86 billion funding drive by considering sales of samurai bonds and sukuk along with loans from China.
“The more sources of funding you have, the better position you are in” to reduce debt service payments, chief executive Brian Molefe said at Transnet’s headquarters in Johannesburg’s Carlton Centre on Monday. Transnet is considering selling yen-denominated debt after Bank of Japan governor Haruhiko Kuroda doubled monthly bond purchases, sending the nation’s bond yields to record lows. South Africa and Nigeria are among African nations weighing Islamic financing as a source of funds………………………………………..Full Article: Source

 
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