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Emerging Markets

GS sukuk secures diversification but slips in secondary

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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.

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