10.04.2013 - Sharjah Islamic raises $500 mln in sukuk sale
Sharjah Islamic Bank (SIB) sold a $500 million five-year Islamic bond at tighter pricing than initially indicated due to strong demand for sharia-compliant debt from the Gulf Arab region. The sukuk, maturing in 2018, priced at par with a profit rate of 2.95 percent, at the lower end of the final guidance range of between 2.95 percent and 3 percent. Islamic banks have stepped up sales of Shariah-compliant debt to meet their liquidity requirements and also to increase their capital reserves. Demand for the sukuk was high, and the order book was over $2 billion when the official guidance was released...............................................Full Article: Source
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