Bahrain's Central Bank Leads $1.2 Billion Sukuk Sale for Government
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Khalid Ebrahim Humaidan, Governor of Central Bank of Bahrain
The Central Bank of Bahrain (CBB), with a B+ rating from both S&P and Fitch, has appointed a group of banks to manage a $1.2 billion sukuk issuance. This seven-year, USD-denominated senior unsecured Ijara/Murabaha sukuk is being issued on behalf of the Bahrain government through the Ministry of Finance and National Economy.
The joint lead managers handling the sukuk include Dubai Islamic Bank, First Abu Dhabi Bank, JP Morgan, KIB Invest, Mashreqbank, National Bank of Bahrain, and Standard Chartered Bank.
The sukuk, set to be listed on the London Stock Exchange's Main Market, offers a fixed coupon rate of 5.875%. The issuance is scheduled for settlement on December 5, 2024, with the sukuk maturing on June 5, 2032.
Source: Bindu Rai / Zawya
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