02.02.2012 - USD20bln Sukuk in January, restructuring debt driver in 2012
January was a remarkable month for the global sukuk industry and marked a very promising start for the year. USD 20 billion sukuk were issued in the month according to Zawya Sukuk Monitor, making January 2012 by far the best month on record in terms of issuance since 1996. Issuance was inflated by two exceptional sukuk in terms of size - Saudi's General Authority for Civil Aviation (GACA) USD 4 billion sukuk and Malaysia's PLUS USD 10 billion sukuk. Three banks from the UAE managed to sell USD 1.3 billion sukuk in January. The three sukuk were sold in the international market, and were met by oversubscription, partly reflecting international investors' confidence in the financial strength of these banks on one hand, a thirst for Islamic bonds, and a shift away from the deteriorating credit rating of Europe based issuers. ..............................................Full Article: Source
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