SHUAA Leads Issuance Of GFH Financial Group $300 Million Sukuk #Dubai - Dubai City Guide
Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Download our Media Kit

Restaurants

Education


 





Home / News / Latest 24 Hrs News
Latest 24 Hrs News
   

SHUAA Leads Issuance Of GFH Financial Group $300 Million Sukuk
(22 January 2020)

 

SHUAA Capital today announced that along with other parties, it had successfully priced and issued GFH Financial Group’s five-year sukuk at $300 million. The sale of the sukuk, held 21st January, was more than twice oversubscribed, with orders of over $700 million.

Mustafa Kheriba, Deputy CEO and Group Head of Asset Management at SHUAA, commented, "SHUAA played an integral role in the successful issuance of the GFH Financial Group’s five-year sukuk. For SHUAA, this is another landmark deal that demonstrates the Group’s strong investment banking capabilities and experience from having managed similar high-profile capital market transactions."

In the past 12 months, SHUAA has been mandated on several sukuk issuances, including the $135 million dollar-denominated five-year sukuk for Jabal Omar Development Company and the $135 million sukuk for The First Group. This brings the total amounts raised for SHUAA-led sukuk to more than $500 million in the past year, making it the most active non-bank advisor in the Middle East for sukuk issuances.

Hisham Ahmed Al Rayes, CEO of GFH Financial Group, the Bahrain-based Islamic investment bank, said, "This is another milestone enabling us to tap debt capital markets for the first time since 2008. The strong interest in our sukuk is a result of GFH’s robust fundamentals and strong turnaround in 2016, following a strategic investment made by the Abu Dhabi Financial Group. SHUAA has been instrumental in managing the sukuk issuance from start to finish, resulting in its oversubscription by more than two times."

GFH’s Board of Directors received shareholder approval on 29th December, 2019 to issue the shariah-compliant bond to fund the Group’s growth and diversification plans.

We accept Guest Posts


DubaiCityGuide.com is owned and managed by Cyber Gear



  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
2024
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Daily Guide

 



Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance