Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,303.10 +8.60 0.06%
S&P 500 1,649.60 -0.91 -0.06%
Nasdaq 3,459.14 -0.27 -0.01%
Ticker Volume Price Price Delta
STOXX 50 2,764.29 -12.49 -0.45%
FTSE 100 6,654.34 -42.45 -0.63%
DAX 8,305.32 -46.66 -0.56%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,618.70 -51.01 -0.23%
S&P/ASX 200 4,983.50 -78.95 -1.56%
BREAKING NEWS
Final Score: Bayern Wins Champions League Title with 2-1 Defeat of Dortmund

Kazakh Development Bank Swaps Ringgit Sukuk Proceeds to Dollars

Development Bank of Kazakhstan JSC, which issued the country’s first ringgit-denominated bond, swapped the proceeds from the sale into U.S. dollars.

The 240 million-ringgit ($76.7 million) five-year murabaha Islamic note, which was priced to yield 5.5 percent, was swapped into $76 million at a 4.95 percent yield as part of an agreement with Royal Bank of Scotland Group Plc, the Astana-based bank said in a statement published on the Kazakhstan Stock Exchange’s website today. The swap comes due in August 2017, according to the state-owned lender.

Development Bank of Kazakhstan sold debt denominated in the Malaysian currency in July, according to data compiled by Bloomberg. Murabaha is a financing structure acceptable under Sharia, or Islamic religious law.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Sponsored Link