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Business, Banking & Finance, Economy

Equinor signs $27 bn gas deal

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Bahrain central bank’s monthly Sukuk issue oversubscribed by 152%

A side view of Central Bank of Bahrain.
By TRENDS Desk
August 15, 2022 5:01 pm
  • Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days.
  • The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.

The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152 percent.

Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days. This is issue number 256 of the short-term Sukuk Al-Salam series.

The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.

The Sukuk Al-Salam is issued by the CBB on behalf of the government of Bahrain.

The May 16 Sukuk, which matures on Aug. 17, was oversubscribed by 184 percent.

In total, it received subscriptions worth $209 million for the $114-million issue, and was expected to give a return of 2.30 percent on maturity on August 17, against its previous issue rate of 1.99 percent on April 13, 2022.

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