Sceptics out in force as HK steps closer to debut sukuk

By Isabella Zhong, Virginia Furness
28 Aug 2014

Hong Kong took another step towards its long awaited debut sukuk issue on Thursday, announcing roadshow dates for the proposed dollar deal. The transaction is the first step in the financial centre’s bid to establish itself as a regional Islamic financing hub. But scepticism of the plan and its chances of success remains high, write Virginia Furness and Isabella Zhong.

The Government of the Hong Kong SAR (HKSAR) has mandated HSBC and Standard Chartered as joint global co-ordinators for the potential Reg S/144A issue. CIMB and National Bank of Abu Dhabi have also been hired as joint lead managers and joint bookrunners.

The borrower will hit the road ...

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