Date: November 2023
Issuer: ROP Sukuk Trust
Obligor: Republic of the Philippines
Size: $1 billion
Structure: Trust certificates (wakala/ijarah/murabaha)
Tenor: 5.5 year
Banks: Citi, Deutsche Bank, Dubai Islamic Bank, HSBC, MUFG, Standard Chartered (joint bookrunners and lead managers)
The number of countries looking to issue in the global sukuk market has grown in recent years, leading to innovative debut issuance from all over the world.
This trend is expected to continue, helping to broaden and deepen the global sukuk market, which last year recorded $168 billion of issuance, down slightly on the year before.
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