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Issues Bahrain’s first-ever green sukuk

Issuance Details

  • Company: Infracorp
  • Rating (Fitch): B
  • Sector: Financial
  • Market: ISM

Transaction Details

  • Issue Date: 15 March 2022
  • Issue Size: $900 million
  • Coupon: 7.5%
  • Maturity: Perpetual

Infracorp completes issuance of $900 million sukuk

  • Infracorp is the infrastructure and sustainability arm of GFH Financial Group. It manages nearly $3 billion of infrastructure assets, including a 250 million-square-foot land bank earmarked for sustainable economic and social infrastructure
  • In March 2022, Infracorp sold $900 million in sustainable sukuk, the first-ever green sukuk issued by a Bahraini entity
  • The perpetual Islamic bond was issued on London’s International Securities Market (ISM) at a semiannual yield of 7.5%
  • Proceeds from Infracorp’s debt sale will be used to accelerate the growth of sustainable infrastructure across the Middle East and South Asia
  • GFH Financial Group BSC underwrote the deal

Source: London Stock Exchange, Refinitiv, May 2022