South Africa: Treasury Proclaims Launch of First Sovereign Rand-Denominated Al-Ijarah Sukuk On African Continent

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The Republic of South Africa trades inaugural Rand-denominated Sukuk senior unsecured Shari’ah Belief Certificates within the home capital markets

The Nationwide Treasury of the Republic of South Africa is happy to announce the profitable launch of the primary sovereign Rand-denominated Al-Ijarah Sukuk on the African continent via The RSA Home Sukuk Trustee (RF) Proprietary Restricted, as trustee of The RSA Home Sukuk Belief, a landmark transaction totaling ZAR20.386 billion.

The Senior Unsecured Shari’ah Belief Certificates, launched within the home capital markets, comprise 4 tranches with various maturities and will likely be listed on the Curiosity Price Market of the trade operated by the Johannesburg Inventory Alternate Restricted (JSE). This important achievement was realised with an environment friendly intra-day execution.

The Shari’ah Belief Certificates to be issued on Wednesday, 29 November 2023 include:

Inventory code

RS2029

RS2031

RS2034

RS2036

Tenor

5.3-year

7.3-year

10.3-year

12.3-year

Complete Bids Obtained (ZAR’m)

13 929

16 146

3 175

2 267

Quantity Allotted (ZAR’m)

7 490

8 866

2 479

1 551

Fastened Revenue Price

9.87%

10.64%

11.58%

11.90%