Africa Bonds
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Manama, Bahrain –15 July 2012 – The Central Bank of Bahrain (CBB) announces that the new issue of the long term Islamic leasing, Sukuk Al-Ijara, has been oversubscribed by 200%.
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Manama, Bahrain –15 July 2012 – The Central Bank of Bahrain (CBB) announces that the new issue of the long term Islamic leasing, Sukuk Al-Ijara, has been oversubscribed by 200%.
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Dar Al-Arkan Real Estate Development Company (DAAR) is pleased to announce repayment of its Sukuk II, which is due on Monday 16 July 2012, and amounts to SAR 3.75bn (US$1bn). DAAR transferred the total principal sum to Deutsche Bank (the principal paying agents) on Thursday 12 July 2012 and the Sukuk account holders will receive funds on Monday 16 July 2012. This second Sukuk was part of DAARs Islamic structured debt program (Sukuk program), initiated in 2007. The aim of the program was to provide high quality long term external financing to complement the Companys robust internal cash flow at a time of strong growth in the Saudi real estate market. In the last five years, an extremely challenging period for the international debt markets, DAAR has successfully issued four Sukuk (3 international, one domestic) raising a total of SAR8.4bn (US2.25bn). Of this, 2 Sukuk totaling SAR6bn (US$1.6bn) has been repaid on time and satisfying all obligations, representing 71.4% of DAARs Sukuk program. It is worth mentioning that the Islamic Sukuk Program has aided the Company in the implementation of the Company's various projects over the Kingdom. DAAR provided more than 16,000 residential units which contributed in fulfilling the residential demand in Saudi Arabia.
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Source: The New Straits Times Press (Malaysia) Berhad
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The Republic of South Africa this week picked Albaraka South Africa, BNP Paribas and Standard Bank as bookrunners for its debut sukuk. The prospective deal has been eagerly anticipated by investors since the country’s national treasury sent out requests for proposals late last year.
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24.06.2012, Jeddah, KSA - The world’s main rating agencies, Standard & Poor's, Fitch Ratings and Moody’s, have all recently reaffirmed their highest issuer rating “AAA” to the IDB’s enlarged US$ 6.5 billion Trust Certificate Issuance “Sukuk” Program and the US$ 800 million issuance in June 2012, thereunder.
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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.