Summary
SPV Name:
Hong Kong Sukuk 2015 Limited
Notes:
The Sukuk uses Wakalah structure, where one-third of assets underpinned by selected units in an office building in Hong Kong, and two-third of the assets underpinned by shariah-compliant commodities. Hong Kong is the first AAA-government sukuk issuer to adopt a Wakalah structure.
Orders of US$2 billion, which was 2 times the issuance size. Orders were received from 49 global institutional investors, and 42% of the Sukuk were distributed to the Middle East, 43% to Asia and 15% to Europe. By investor type, 77% was distributed to banks, private banks and fund managers, and 23% to sovereign wealth funds, central banks and supranationals.
Profit rate:
1.894%
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