The issuer is rated B by S&P and Fitch/Shutterstock
by Kudakwashe MuzoriwaBahrain’s GFH Financial has issued $300 million five-year Sukuk which was oversubscribed 2.5 times, exceeding $750 million.
In a statement, the investment group said that the Islamic bonds saw strong participation from international investors who received 48 per cent of the allocation while the remaining 52 per cent was allocated to regional investors.
Societe Generale and Standard Chartered were joint lead managers together with Emirates NBD Capital, KAMCO Investment as well as Mashreq Bank, SHUAA Capital and Warba Bank.
GFH stated that the strong market demand and successful closure of the Sukuk reflects market confidence in the investment group which was supported by S&P and Fitch ‘B’ rating.
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CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
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