Islamic bonds go mainstream


The sukuk market is now large enough for the global banks which are eager to tap more Middle Eastern money, and Goldman Sachs (NYSE:GS) next week in Qatar will begin a road show as it looks to raise at least $500M.

Should the Goldman deal go through, it would become just the 2nd non-Islamic bank to sell sukuk. The first was HSBC with a $500M deal in 2011. Other banks - SocGen and Bank of Tokyo-Mitsubishi UFJ - are prepping offerings as well.

New issues of sukuk this year total $85.9M and 456 deals, vs. $74.9B and 558 deals a year ago.

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Comments (2)
  • PeaPod612
    , contributor
    Comments (33) | Send Message
     
    Goldman Sachs is so awesome; the only "Jewish" (not really, but everyone thinks so) investment bank with enough "chutzpah" to sell Islamic bonds.

     

    You can't make this up.
    4 Sep 2014, 09:30 AM Reply Like
  • seekingthetrooth
    , contributor
    Comments (854) | Send Message
     
    "New issues of sukuk this year total $85.9M and 456 deals, vs. $74.9B and 558 deals a year ago"
    I sure hope that's a typo.
    5 Sep 2014, 12:21 AM Reply Like
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