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GFH confirms Reuters news on $500m Sukuk issue

GFH confirms Reuters news on $500m Sukuk issue
The Sukuk issuance will have a tenor of five years
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Dubai – Mubasher: GFH Financial Group on Thursday confirmed to its shareholders the news published by Reuters on 13 January 2020. GFH clarified that it plans to issue five-year-tenor Sukuk.

The issuance builds on the shareholders’ resolution, which was passed on 29 December 2019, to issue $500 million worth Sukuk through one or more tranches. The Sukuk will be potentially listed on the International Securities Market (ISM) of the London Stock Exchange (LSE), according to a press release.

Moreover, Société Générale and Standard Chartered Bank were appointed to act as the issuance’s global coordinators and joint lead managers.

GFH highlighted that meetings with fixed-income investors will be held as of 15 January 2020 in Asia, the UAE, and London.

Furthermore, Emirates NBD Capital, KAMCO Investment Company, Mashreq Bank, Shuaa Capital, and Warba Bank will serve as joint lead managers.

GFH is a Bahrain-based company listed on Bahrain Bourse (BHB), the Dubai Financial Market (DFM), and Boursa Kuwait.