Post by MMM on Jun 12, 2009 9:30:19 GMT 4
Bahrain's central bank said Thursday its $500 million sukuk issue was raised to $750 million after being eight times oversubscribed.
The five-year sukuk has a spread of 340 basis points over five-year U.S. Treasuries, the central bank said in a statement.
"One of the major reasons behind this issue was to establish a yield curve benchmark for longer-term Islamic securities," said Salman bin Isa Al Khalifa, the central bank's executive director for banking operations.
The central bank added that the sukuk has an 'A' rating from Standard & Poor's and Fitch Rating Services.
The five-year sukuk has a spread of 340 basis points over five-year U.S. Treasuries, the central bank said in a statement.
"One of the major reasons behind this issue was to establish a yield curve benchmark for longer-term Islamic securities," said Salman bin Isa Al Khalifa, the central bank's executive director for banking operations.
The central bank added that the sukuk has an 'A' rating from Standard & Poor's and Fitch Rating Services.