To buy or not to buy? Investors divided on Maldives planned U.S. dollar sukuk
LONDON - The Republic of Maldives has hired banks to arrange a potential five-year U.S. dollar-denominated sukuk, according to a document from one of the banks.
Credit Suisse, Emirates NBD Capital, HSBC and the Islamic Corporation for the Development of the Private Sector (ICD), started fixed income investor calls on Monday (March 22).
A potential benchmark five-year U.S. dollar sukuk is set to follow, subject to market conditions, the document noted. In the hard currency sukuk market, benchmark usually refers to $500 million or above.
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