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

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below