www.lse.co.uk - DUBAI, Oct 19 (Reuters) - Goldman Sachs has registered a $2 billion Islamic bond programme with the Irish Stock Exchange through its Cayman Islands special purpose vehicle Global Sukuk Company Limited, according to International Financing Review (IFR).
The Islamic bonds, or sukuk, could be denominated in UAE dirhams, U.S. dollars, Saudi riyals or Singapore dollars but a time frame for issuance was not provided. (source)
Dar Al Istithmar Limited, which has offices in the U.K. and Dubai, is the sharia adviser of the programme.
HSBC's Middle East unit became the first international bank to issue a sukuk in May. The $500 million Islamic bond priced at 155 basis points above midswaps, carrying a maturity of five years.
The sukuk market has been largely resilient despite a global financial downturn that has dried up bond issuances.
IFR is a publication of Thomson Reuters.
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