Debt Capital Markets

Ras Al Khaimah completes US$400mn sukuk

On July 22, the Ras Al Khaimah government completed the formal documentation and signing for its US$400mn sukuk issue, with Standard Chartered Bank, BNP Paribas and Liquidity House acting as joint bookrunners.

Hungary raises '1bn bond issue

Hungary has successfully sold its first debt to foreign investors since the country had to be bailed out by the IMF last year. Investors ordered €2.9bn of securities, nearly six times the €500mn the government initially planned to raise.

Macedonia issues '175mn Eurobond

On July 1, the republic of Macedonia has issued a fixed-rate €175mn Eurobond with a 9.875% coupon which matures in 2013. The money is said to finance the country’s budget gap and prop up the currency.