24.07.2012 - First Islamic bond launched in Kazakhstan
The Development Bank of Kazakhstan has launched the country's first ever Islamic bond. The quasi-sovereign issue could set a benchmark for Kazakh sukuk, opening the way for corporate Islamic bonds to be placed in future. The paper, issued in Kazakhstan and Malaysia, has a value of MYR240m ($76.6m). Halyk Finance, the bookrunner for the issue, says the bond has been placed for five years and has a yield of 5.5% a year. Thirty eight percent of the issue was placed within Kazakhstan, with the bulk in Kuala Lumpur. ..............................................Full Article: Source
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