Foreign guarantors support Tunisian sukuk revival
Prospects of a sukuk from Tunisia are looking up after the country said it plans to issue dollar denominated bonds and sovereign sukuk with guarantees by America, Japan and the Islamic Development Bank (IsDB), in the first half of 2014.
It is understood that America will guarantee $880m of Tunisian debt and Japan is backing $1bn. Tunisia plans to issue $1.8bn of bonds and Td700m ($435m) of sukuk guaranteed by the IsDB.
“I think the pricing of the deal will be favourable” said Bahrain based Islamic finance consultant
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