Bahrain’s sovereign wealth fund is expected to raise $600 million in Sukuk, with a 5.6 per cent yield, according to Reuters.
The Islamic bond sale obtained orders of around $4 billion.
Mumtalakat started marketing the notes with an initial price guidance of around 6.25 per cent last week.
Mumtalakat hired BNP Paribas, Citi as well as HSBC, National Bank of Bahrain and Standard Chartered Bank to arrange the transaction.
In late December 2018, Mumtalakat’s subsidiary Southern Tourism Comp (STC) acquired its 15th boat from H Al Dhaen Boats. The boat will be used to transport commercial clients and visitors to and from Hawar Islands. Mum holds a 90% stake in H Al Dhaen Boats.
Source Islamic Business&Finance