Sukuk goes global as Goldman and South Africa drive record month

Cape Town
By Steven Gilmore
18 Sep 2014

A fresh wave of sukuk this week made September the biggest month ever for international sales of the product. But debut deals from Goldman Sachs and the Republic of South Africa have implications that go far beyond issuance records. These landmark transactions have paved the way for Western firms and African issuers to add their names to the expanding market.

It was the Islamic Development Bank (IsDB) with a $1.5bn five year sukuk on Thursday that finally smashed the previous $5.25bn monthly record from July 2012, according to Dealogic data. September supply is now $5.75bn and there could be more to come with Luxembourg finishing investor meetings next ...

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