{"id":83381,"date":"2022-01-27T11:28:47","date_gmt":"2022-01-27T06:28:47","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=83381"},"modified":"2022-01-27T12:46:39","modified_gmt":"2022-01-27T07:46:39","slug":"pakistan-usd-1-bn-sukuk-bond","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pakistan-usd-1-bn-sukuk-bond.html","title":{"rendered":"Pakistan introduces USD 1 bn Sukuk bond in London Stock Exchange"},"content":{"rendered":"\n

Islamabad: Pakistan on Monday (January 24) released Sukuk Islamic bond worth USD 1 billion in the London Stock Exchange (LSE), news sources reported. The bond is issued for a term of seven years with a profit rate of 7.5 % payable semi-annually.\u00a0\u00a0<\/p>\n\n\n\n

Read:<\/strong> Govt to float Sukuk bonds to support budget deficit<\/a><\/p>\n\n\n\n

The issue date for the bond is January 31, 2022 and is the most expensive one to date. The government aims to create revenue for the domestic economy and to support National Highway Authority (NHA)<\/a> projects with the revenue generated. Pakistan Global Sukuk Programme Company Limited (PGSPCL) <\/a>will issue and manage the bonds. It was announced that Dubai Islamic Bank, Standard Chartered Bank, Credit Suisse, and Deutsche Bank AG will book and manage the bonds.\u00a0<\/p>\n\n\n\n

Read:<\/strong> Climate change ministry to release Nature Performance Bonds<\/a><\/p>\n\n\n\n

New-york-based Moody\u2019s Investors Service and Fitch Ratings have assigned a \u2018B-backed senior unsecured rating\u2019 and a \u2018B- rating respectively to the Sukuk certificates. During the current fiscal year, both rating agencies have assigned a total credit value of USD 3 billion to the international capital markets. It is worth noting that the most recent Sukuk bond was issued after a four-year hiatus. A Sukuk was issued in December 2017 for a duration of five years at a rate of 5.6 %.<\/p>\n","protected":false},"excerpt":{"rendered":"

Islamabad: Pakistan on Monday (January 24) released Sukuk Islamic bond worth USD 1 billion in the London Stock Exchange (LSE), news sources reported. The bond is issued for a term of seven years with a profit rate of 7.5 % payable semi-annually.\u00a0\u00a0 Read: Govt to float Sukuk bonds to support budget deficit The issue date for the bond is January 31, 2022 and is the most expensive one to date. The government aims to create revenue for the domestic economy and to support National Highway Authority (NHA) projects with the revenue generated. Pakistan Global Sukuk Programme Company Limited (PGSPCL) will issue and manage the bonds. It was announced that Dubai Islamic Bank, Standard Chartered Bank, Credit Suisse, and Deutsche Bank AG will book and manage the bonds.\u00a0 Read: Climate change ministry to release Nature Performance Bonds New-york-based Moody\u2019s Investors Service and Fitch Ratings have assigned a \u2018B-backed senior unsecured rating\u2019 and a \u2018B- rating respectively to the Sukuk certificates. During the current fiscal year, both rating agencies have assigned a total credit value of USD 3 billion to the international capital markets. It is worth noting that the most recent Sukuk bond was issued after a four-year hiatus. A Sukuk…<\/p>\n","protected":false},"author":84,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[50797,50798,46454],"persona":[],"class_list":{"0":"post-83381","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-pakistan-introduces-usd-1-bn-sukuk-bond-in-london-stock-exchange","9":"tag-sukuk-bonds-2022","10":"tag-sukuk-bonds-for-islamic-banking","11":"cat-15017-id"},"acf":[],"yoast_head":"\nPakistan introduces USD 1 bn Sukuk bond - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Pakistan on Monday (January 24) released Sukuk Islamic bond worth USD 1 billion in the London Stock Exchange (LSE), news sources reported. 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