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Sarwa Capital, Amer Group to issue sukuk before year-end

Sarwa Capital, Amer Group to issue sukuk before year-end

ArabFinance: Sarwa Capital and Amer Group will issue sukuk before the end of the year, unnamed sources told Daily News Egypt.

Sarwa is likely to tap the sukuk market next month, sources added.

The finance solutions provider signed an agreement with Banque Misr and Misr Capital Company to guarantee, promote, and cover the issuance of sukuk, Ayman El Sawy, managing director of Sarwa Promotion and Underwriting, said earlier. 

Sarwa's sukuk issuance will be the second to hit the Egyptian market after Talaat Moustafa Group’s (TMG) offering earlier this year.

Amer Group is planned to issue its first corporate sukuk offering in December, yet it did not decide on the final value for the sale, the news portal added.

However, anonymous sources at Amer Group told Al Borsa News website that sukuk issuance is likely to be valued at EGP 2 billion.

 

 

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