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Clifford Chance have worked on a number of "firsts" in Islamic Finance:
- The first ever sukuk issuance by the Republic of Turkey One of Asia Pacific's first internationally rated multi-currency sukuk issuance programmes.
- The first sukuk convertible into units in a real estate investment trust and the first convertible sukuk issuance in Singapore
- An ijara facility structured using real estate in the Dubai International Finance Centre (DIFC), the first time this has been done
- The first sukuk issuance by a Saudi Arabian government entity with the benefit of an express guarantee from the Ministry of Finance.
Standard & Poor's upgrading of Indonesia to investme
Issued as part of Unlimited sukuk-al-ijara trust cer
Geographic distribution of 27% to Islamic investors
Tier 2 capital-boosting sukuk. XS1323608635
Tier 2 Trust Certificates, Reg S fixed rate resettab
More than a third of the issuance went to UK investors, with the remaining bonds sold in the Middle East and Asia.
Surveying the available financing models in the Middle East for sustainable infrastructure projects, Sukuk appears as a viable option.
British banks and legal firms continued to dominate the arrangers market
Albaraka Turk has issued a tier 2 Sukuk for the value of USD$250 million. The sukuk has been admitted for listing on the Irish Stock Exchange.
In the MYR space, UMW Holdings printed MYR200m (AAA) 3y and 5y tranches at 4.5% and 4.7% respectively, for refinancing purposes.
Malaysia is leading in issuance of Sukuk with a ratio of 11 as compared to conventional bonds. Assistant Vice Chancellor University of Utara Malaysia