By Aaron Hochman-Zimmerman
New York, Nov. 29 - Ras Al Khaimah Investment Authority priced a $325 million five-year debut senior wakalah sukuk at par with a spread of Libor plus 150 basis points, according to an informed source.
Credit Suisse, HSBC and NBD Investment Bank acted as bookrunners for the deal, which came on top of talk. The offering priced Monday.
The offer will be guaranteed by the government of Ras Al Khaimah.
Rakia is an investment company based in the Ras Al Khaimah, United Arab Emirates.
| Issuer: | Ras Al Khaimah Investment Authority
|
| Amount: | $325 million
|
| Issue: | Five-year wakalah sukuk
|
| Maturity: | 2012
|
| Coupon: | Libor plus 150 bps
|
| Price: | Par
|
| Spread: | Libor plus 150 bps
|
| Bookrunners: | Credit Suisse, HSBC, NBD Investment Bank
|
| Pricing date: | Nov. 26
|
| Price talk: | Libor plus 150 bps
|
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