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South Africa Hires Three Banks for Debut Sukuk Offering

South Africa said it appointed BNP Paribas SA, KFH Investment and Standard Bank Group Ltd. to arrange a debut sukuk sale of at least $500 million.

Investor meetings will be held next month in Europe, Asia and the Middle East, Tshepiso Moahloli, director of debt issuance and management at the Pretoria-based National Treasury, said in an e-mailed response to questions. Meetings will run from Sept. 8 to Sept. 12, according to two people with knowledge of the proposal, who asked not to be identified because they aren’t authorized to speak publicly.