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$100m real estate sukuk
- Kuwait: Thursday, May 12 - 2005 at 07:21
The $100m sukuk for Kuwait-based The Commercial Real Estate Company has been oversubscribed by 133%. The Ijara sukuk, rated A- by Capital Intelligence, is structured as a Shari'a compliant lease-to-own Islamic security with a five-year term maturing in 2010. It offers a semi-annual return of 125 basis points over US Dollar 6 months Libor and will be listed on the Bahrain Stock Exchange.
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James McInerney, News EditorThursday, May 12 - 2005 at 07:21 UAE local time (GMT+4)
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