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South Africa not seeking US dollar sukuk in 2015, may return in 2016
February 12, 2015 / 8:17 AM / 3 years ago

South Africa not seeking US dollar sukuk in 2015, may return in 2016

LONDON, Feb 12 (IFR) - South Africa is not planning to issue a US dollar-denominated sukuk in 2015, though it may print one in 2016, according to a funding official.

"It's quite possible there will be a sukuk at some point," Tshepiso Moahloli, director of debt issuance and management in South Africa's national treasury, told IFR on the sidelines of a Euromoney conference, late on Wednesday. "There will not be one this year. It may be next year."

South Africa is also planning on issuing a domestic sukuk in rand.

"We want to introduce sukuk locally," Moahloli said. "Something that our local retail investors will have to invest in."

South Africa printed its debut US$500m five year sukuk in September last year.

The sovereign is rated Baa1 by Moody's, BBB- by Standard & Poor's and BBB by Fitch. (Reporting By Michael Turner; editing by Alex Chambers)

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