Given current geopolitical tensions it speaks volumes for the widening appeal of Islamic finance as an asset class that the most innovative deal of 2006 should involve the first-ever Islamic securitization originated out of the US. In July, Texan oil and gas company East Cameron Partners raised $165.6 million via arrangers BESC and Merrill Lynch in a sukuk transaction securitizing ECP’s ownership of oil and gas assets in a field in the Mexican Gulf.
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