Mumtalakat to broaden benchmark sukuk universe
Bahrain’s sovereign wealth fund Mumtalakat started a roadshow this week ahead of its first benchmark dollar sukuk. Investors are happy to see a new international sukuk issuer in the market, but are concerned that Mumtalakat's support for struggling airline Gulf Air will be a drain on resources.
BNP Paribas, Deutsche Bank, HSBC, Mitsubishi UFJ Financial and Standard Chartered are dealers for Mumtalakat Sukuk Holding Co’s $1bn multicurrency programme. The same banks are bookrunners on the new transaction — Mumtalakat’s first sukuk since a small ringgit deal in 2013 and its first ever dollar benchmark sukuk.
...
Already a subscriber? Login