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Maldives gives 10.5% price guidance for tap of existing sukuk - document

Maldives gives 10.5% price guidance for tap of existing sukuk - document

reuters.com · 09/02/2021 02:32
Maldives gives 10.5% price guidance for tap of existing sukuk - document

- The government of the Maldives has given price guidance of 10.5% for a tap of existing U.S. dollar-denominated bonds - reopening them for subscription to raise more cash, a document showed on Thursday.

The size of the "tap" - when a transaction is reopened for subscription using the same documentation as before - is still to be determined, according to the document from one of the banks on the deal, expected to launch later on Thursday.

Credit Suisse CSGN.S, Emirates NBD Capital ENBD.DU, HSBC HSBA.L, the Islamic Corporation for the Development of the Private Sector (ICD), JPMorgan JPM.N and Standard Chartered STAN.L are arranging the deal.

The existing $300 million sukuk, issued in April and due in 2026, were sold at 9.875%.



(Reporting by Yousef Saba; Editing by Kim Coghill)

((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))