Nasdaq Dubai lists $1bn sukuk by Ras Al Khaimah govt
The government of Ras Al Khaimah has listed a $1 billion sukuk on Nasdaq Dubai.
The 10-year senior unsecured sukuk, which was listed at a profit rate of 5.038% on March 5, is due in 2035. It has been issued under the $2 billion trust certificate issuance programme of RAK Capital, a special-purpose vehicle affiliated with the RAK government.
The order book exceeded $4.4 billion, displaying strong investor demand.
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