IslamicFinance.de

The deadline for financial institutions to submit proposals for advising the South African government on the structuring and issuance of its debut sovereign Sukuk will expire on Dec. 21.
Shortlisted candidates will be informed by Jan. 20, 2012, which means that the global mandate may take a few more months to be launched. Taking into account the structuring of the issuance, the documentation and the investor road shows, realistically, the South African debut benchmark issuance may only happen by the middle of 2012. The only one who can speed up the process is the South African National Treasury in Pretoria.
According to an official statement, the request for proposals is in line with the National Treasury's intention to mix up its funding and investor base.