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UK Government’s Planned Second Issue of Sovereign Sukuk: Appointment of Syndicate

IM Insights
By IM Insights
5 months ago
UK Government’s Planned Second Issue of Sovereign Sukuk: Appointment of Syndicate

Sukuk


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  1. DMO SCREEN ANNOUNCEMENT ON BEHALF OF HM TREASURY UK GOVERNMENT ’S PLANNED APPOINTMENT OF SYNDICATE SECOND ISSUE OF SOVEREIGN SUKUK: The United Kingdom Debt Management Office (“DMO”), on behalf of HM Treasury, is today announcing the UK’s intention to issue the UK’s second sovereign Sukuk in the coming weeks, subject to market conditions. The UK sovereign Sukuk will have a long 5-year final maturity and, as with the first issue, will use the commonly used Al-Ijara structure. The DMO is also announcing today the appointment of a syndicate of four additional Joint Lead Managers (to join HSBC, the appointed Structuring Advisor) to deliver the planned sale of UK sovereign Sukuk. The Joint Lead Managers being announced today, in addition to HSBC, are: • • • • CIMB Investment Bank Dubai Islamic Bank Emirates NBD Capital Standard Chartered Bank Four banks have also been appointed as Co-Lead Managers: Bank ABC, Dukhan Bank, KFH Capital and Maybank. Further details of the transaction will be announced in due course by the DMO, acting on behalf of HM Treasury, and the Joint Lead Managers. 22 March 2021