Africa Bonds
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24 June 2012: Islamic Development Bank (“IDB”) announced that Standard & Poor's, Fitch Ratings and Moody’s have all reaffirmed recently their highest issuer rating “AAA” to the IDB’s enlarged US$ 6.5 billion Trust Certificate Issuance “Sukuk” Program and the US$ 800 million issuance in June 2012 thereunder.
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Source: BNE Media Ltd. Clare Nuttall in Almaty June 21, 2012 The Development Bank of Kazakhstan is in the final stages of preparing to issue the countrys first sukuk, or Islamic bond. The quasi-sovereign issue by the state development bank is expected to set a benchmark for Kazakh sukuk, opening the way for corporate Islamic bonds to be placed in future.
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Manama, Bahrain –19th June 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 125%.
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Clifford Chance advised DIFC Investments LLC (DIFCI) in securing a USD 1.035 billion Islamic syndicated facility to contribute towards financing in full the repayment of its USD 1.25 billion Sukuk maturing 13th June 2012. This is a landmark transaction in the history of the DIFC which further evidences the commitment of Dubai to meet its obligations in a timely manner.
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Shares of Malaysia Airlines (MAS) rose over 5% in early trading on Wednesday after the first tranche of its MR2.5bn ($794.9m) sukuk programme was fully subscribed.
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Manama, Bahrain – 28 May 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD 18 million issue, which carries a maturity of 91 days, has been oversubscribed by 178%.
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VTB, a Russian bank that has worked hard to expand its funding sources over the last few years, is not yet done with diversification. The bank now plans to showcase the possibilities for Russian issuers in the sukuk market.
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London, 21st May 2012
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