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Indonesia’s Axis completes $1.2 billion deal |
One of the biggest and most complex Islamic financings was completed last month after nearly two years’ work.
The Indonesian subsidiary of Saudi Telecom raised $1.2 billion through a triple-tranche transaction that involved China’s development bank, Sweden’s export credit agency and the World Bank. The financing required a Shariah-compliant structure that included a political risk guarantee and risk management solutions to mitigate currency and interest-rate risks.
The transaction was for Axis, 80.1%
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