Sunday 24 June 2018

Mumtalakat prices 5-yr $97.7m sukuk

London, September 25, 2012

Bahraini sovereign wealth fund Mumtalakat priced a 300 million ringgit ($97.7 million) five-year sukuk on September 7 via Standard Chartered and CIMB Islamic.

The murabaha-structured deal is the first by the AA2 (Ram) rated borrower in the ringgit market and has been issued off its 3 billion ringgit sukuk programme.

Mumtalakat went on investor meetings in the summer but held back from issuing because basis swaps were not favourable for Gulf borrowers at the time.

The issue date for the sukuk will be October 4, while the maturity date is October 3, 2017. The profit rate is 5.5 per cent. – Reuters

Tags: London | sukuk | UK | Mumtalakat |

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