Egypt: Bokra concludes $59mln Mudarabah Sukuk issuance for Aman Holding's arm
Arab Finance: Bokra, a Sharia-compliant investment and financing company, has completed an EGP 3 billion Mudarabah Sukuk issuance for Aman Holding's Aman Business Finance, as per an emailed press release.
The offering holds a tenor of 84 months starting from the subscription closing date. It carries a +BBB rating from Middle East Rating and Investors Service (MERIS).
This issuance marks a strategic move in Bokra's plan to roll out its investment products within the debt instruments segment, allowing its clients to achieve their financial goals. The company's portfolio includes real estate, gold, and debt instruments.
A number of key financial institutions participated in the issuance, including the Suez Canal Bank, the Arab African International Bank, Al Baraka Bank, and Al Ahly Pharos as promoters and underwriters.
Alieldean Weshahi & Partners acted as legal advisor, with MOORE acting as the independent financial advisor and Baker Tilly as the auditor.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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