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Senegal to launch $200 million Sukuk bond on Wednesday -ministry
June 25, 2014 / 12:02 AM / 3 years ago

Senegal to launch $200 million Sukuk bond on Wednesday -ministry

DAKAR, June 24 (Reuters) - Senegal will launch its 100 billion CFA franc ($207 million)sukuk programme on Wednesday, the finance ministry said in a statement, the first major Islamic bond by a West African nation to raise funds.

The bond will be sold in units of 10 million with a unit price of 10,000 CFA francs and an annual profit margin of 6.25 percent, the statement said.

It added that subscriptions will be open from June 23 to July 18, 2014 and unitholders resident in Senegal would be exempted from taxes. ($1 = 482.4450 CFA francs) (Reporting by Diadie Ba and Bate Felix; Editing by Eric Walsh)

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