Mumtalakat to issue $97.7m Islamic bond
Bahraini sovereign wealth fund Mumtalakat has priced a 300 million ringgit ($97.7m) five-year sukuk on September 7 via Standard Chartered and CIMB Islamic, Reuters has reported. The murabaha-structured deal is the first by the AA2 (Ram) rated borrower in the ringgit market and has been issued off its three billion ringgit sukuk programme. The issue date for the sukuk will be October 4, while the maturity date is October 3, 2017. The profit rate is 5.5%.
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