IslamicFinance.de

Kuwait Finance House Investment Company (KFH-Investment) has participated in arranging USD 750 mln debut sukuk for the emirate of Sharjah. Emad Al Monayea, Board Director and Chief Executive Officer, KFH-Investment stated that the sukuk witnessed 10-time oversubscription where order book was about USD7.85 billion from 250 accounts. He added that the government plans to continue to use borrowing to fund priority capital investment. He explained that rating agencies Moody’s and S&Ps assigned sukuk A and A3 ratings supported by the stable future outlook. Talking about the allocation of the debut sukuk, he said that Middle East is 50 per cent, UK 20 per cent, rest of Europe 11 per cent, Asia 14 per cent and others five per cent.