Bahrain’s Mumtalakat starts marketing dollar sukuk

The five-year maturation sukuk is expected to have an initial yield of 6.25 percent. (AFP)
Updated 20 February 2019
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Bahrain’s Mumtalakat starts marketing dollar sukuk

  • Several international banks will handle the transaction
  • The bond is expected to be at least $500 million

DUBAI: Bahrain’s sovereign wealth fund Mumtalakat started marketing its planned five-year US dollar Islamic bonds, or sukuk, with an initial yield guidance of around 6.25 percent, a document issued by one of the banks leading the deal showed.
The sukuk, which is expected to price later on Wednesday, will be of benchmark size, which generally means upwards of $500 million.
BNP Paribas, Citi, HSBC, National Bank of Bahrain and Standard Chartered Bank have been hired to arrange the transaction.


Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

Updated 19 March 2019
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Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

  • Media said the increase to the passenger departure fee will raise the amount to $25

CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday.

Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for each passenger flying on regular or charter flights — both internationally and domestically — from Egyptian airports. 

The rate has not changed since 2013, the ministry said in a statement quoted by Al-Ahram Newspaper

The proposed increase was adopted by the Supreme Council for Pricing after "careful consideration" and according to normal practice in airports worldwide, it added.  

The ministry said the increase is in line with the challenges and demands needed for the development of the entire service system at Egyptian airports.