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22 January 2020

GFH Financial Group issues $300 million Sukuk

Societe Generale and Standard Chartered coordinated the deal

The issuer is rated B by S&P and Fitch/Shutterstock

by Kudakwashe Muzoriwa

Bahrain’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.


RELATED STORIES: Societe Generale Sukuk GFH Financial Group Standard Chartered




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