May 6 (Bloomberg) -- Bahrainâs central bank today appointed Deutsche Bank AG, HSBC Bank plc and Calyon as the lead managers for its sovereign Islamic bonds. The Gulf country will sell $500 million of five-year bonds compliant with Islamic law from May 27, central bank spokeswoman Nayla Ali Al Khalifa said last month. Bahrain will also issue three-year debt in local currency to raise a further 250 million Bahraini dinars ($663 million). Bahrainâs sale of so-called sukuks will be the first from the region this year after demand for Islamic debt slumped during the global credit crisis. Bahrain, the smallest oil producer among the six Gulf Arab states, expects to run a budget deficit of 684 million dinars this year and 728 million dinars next year, according to the Ministry of Finance.
Sukuk.net Wire External Story - Read full article here
Sukuk.net is not responsible for the content of external internet sites
|
