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SUCCESSFUL INAUGURAL EURO-DENOMINATED SOVEREIGN SUKUK ISSUE
Following the successful placement of Luxembourg’s debut sovereign sukuk last week, the Luxembourg Stock Exchange (LuxSE) announces today that the issue has been listed and admitted to trading on its Euro MTF market. The sukuk issue (ISIN LU1113955196) is for an amount of EUR 200 million, matures in October 2019 and pays an annual distribution of 0.436 per cent. It uses an al-ijara structure, a form of lease contract linked to tangible assets, in this case three buildings belonging to the Luxembourg state.
This is only the fourth sukuk issued by a non-Muslim country and the first state issue to be denominated in euros. Listing on LuxSE will increase the sukuk’s visibility and enable...
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