IslamicFinance.de

South Africa has announced a tenor of 5.75 years for its inaugural sukuk, which is expected to price later this week. Initial profit thoughts on the U.S. dollar benchmark-sized Islamic bond, which matures in June 2020, will be released early this week. South Africa finished investor meetings for the 144A/Reg S deal last Friday. The sovereign is rated Baa1 by Moody's, BBB- by Standard & Poor's and BBB by Fitch. BNP Paribas, KFH Investment and Standard Bank are the lead managers.