January 14, 2020 / 4:59 PM / 11 days ago

Bahrain’s Mumtalakat raises $500 mln in Islamic bonds

DUBAI, Jan 14 (Reuters) - Bahrain’s sovereign wealth fund Mumtalakat raised $500 million in sukuk, or Islamic bonds, on Tuesday, a document by one of the banks leading the deal showed.

The seven-year sukuk offer a profit rate of 4.25%, according to the document.

Citi, Gulf International Bank, HSBC, KFH Capital, National Bank of Bahrain and Standard Chartered arranged the deal. (Reporting by Davide Barbuscia; Editing by Jan Harvey)

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