GS sukuk secures diversification but slips in secondary

Goldman Sachs printed a successful debut sukuk this week, which debt bankers and structurers involved in the transaction are hoping can help draw other western issuers into a rapidly broadening sukuk market. But syndicate officials away from the trade disputed claims that pricing was flat to a theoretical conventional bond, and felt a poor first day’s trading meant the sukuk was not a success in the secondary market.