Second Hong Kong sukuk oversubscribed by 100%

Market demand for Hong Kong’s second-ever sukuk exceeded the amount on offer by a two-to-one margin, pushing the Islamic debt instrument’s coupon below 2% at a time when global bond markets are witnessing a rise in yields.

The five-year, dollar-denominated bond, issued by the Hong Kong Monetary Authority (HKMA) today (May 28) on behalf of the government, attracted bids “two times the issuance size” of $1 billion, the HKMA said.

This pushed the coupon down to 1.89%, at the “tight end of the

You are currently unable to copy this content. Please contact [email protected] to find out more.

by :

Source link

Capital Media

Read Previous

IMF Africa Regional Economic Outlook

Read Next

A gloomy May Day awaits Nigerian workers

%d bloggers like this: