It priced a 2.5-year (January 2019) USD225m RegS floating rate note Sukuk at 3m +160bps under its USD2.5bn existing Trust Certificate
Issuance Program on May 31.
MAF Sukuk Ltd., as the issuer and trustee, will invest the proceeds of the trust certificates
in Shari'ah- compliant assets for a period of time corresponding to the duration of the certificates and hold the assets in trust for the benefit of the certificate holders.nBME
Fitch understands that the government of Saudi Arabia's payment obligations associated with the trust certificates
are direct obligations of the Government of Saudi Arabia and rank pari passu with all other unsecured external indebtedness of the government of Saudi Arabia.
KSA Sukuk Limited, a special purpose vehicle incorporated in the Cayman Islands and wholly owned by the Government of Saudi Arabia, will issue Trust Certificates
under the Programme.
Summary: A change in Malaysia's sovereign rating will be automatically be reflected in the trust certificate
ratings of the Issuer.
The bond was launched under the entity's trust certificate
issuance programme with a coupon of 4.718%.
Emaar Properties said on Tuesday it had set up a $2 billion euro medium term note programme and was also planning to launch a $2 billion Islamic bond trust certificate
In a statement to the Dubai Financial Market, the bank said a benchmark Fixed Rate USD Regulation S Senior Sukuk offering of five-year tenor under DIB's $5 billion Trust Certificate
Issuance Programme may follow subject to market conditions.
Summary: DUBAI - Emirates Islamic Bank (EIB), has successfully completed the issuance of $500 million sukuk certificates, maturing in 2017 off their $1,000 million Trust Certificate
Issuance Programme, the bank announced on Monday.