South Africa working with Rand Merchant Bank and Standard Bank for local currency sukuk - sources
LONDON - The Republic of South Africa is working with Rand Merchant Bank and Standard Bank on its planned local currency sukuk, said two people familiar with the matter.
The exact timing of the domestic sukuk issuance as well as its size and maturity have not yet been decided, said the first person.
Regional and international banks pitched for a role on the upcoming issuance, said the second person, adding the sovereign chose to go with the two local banks.
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