Mubasher: KFH Capital, the investment arm of Kuwait Finance House (KFH), has been placed in leading positions among regional and international sukuk issuers, the company’s chief investment banking officer said.
KFH Capital acted as one of the leading arrangers of the $2 billion Turkish Government Sukuks, which received demands exceeded $4.9 billion with a 5.8% returns, Abdullah Sulaiman Al Haddad added in a statement on Sunday.
“This issue reflects the robust Turkish economy and appetite of Sukuk investors to acquire this kind of Sukuks,” Al Haddad indicated.
In the same vein, KFH’s unit also acted as the main arranger of $1billion sukuk transaction for Sharjah government with 3.854% returns.
“Subscriptions amounted 5x the issuance amount. The sukuks were listed on the Irish Stock Exchange and NASDAC Dubai Index,” the official further revealed.
Marking the first financial initiative by an Islamic lender, KFH Capital launched a new index to follow up and measure sukuk performance.
This newly-launched index will offer a new revolving instrument to annalise USD-denominated sukuks in global markets.
“The company’s initiative to launch the index in cooperation with “S&P Dow Jones Indexes” and listing the same on the Bloomberg Global Platform reiterates the company’s keenness to enhance the index related products system which has attracted investors significantly, namely fund managers, wealth managers, banks investment companies,” the official said.
It is worth noting that KFH Capital has finalised the arrangement of its first sukuk issue transaction for the Saudi Telecom Company (STC), valued at $1.25 billion.