Sarwa Capital closes EGP 2.5B sukuk issuance

ArabFinance: Sarwa Capital Holding for Financial Investments closed its inaugural sukuk issuance of EGP 2.5 billion by its subsidiary Sarwa Sukuk Company, according to a disclosure to the Egyptian Exchange.

The issue is a Shariah-compliant mudaraba sukuk for a seven-year term, the company noted.

The proceeds of this issue will be used for further expansion of Sarwa Capita’s subsidiary Contact Credit and its affiliate firms.

Sarwa Capital has 30 total bond issuances exceeding EGP 23 billion, until press time, according to the statement.

The listed company received on November 19th the Financial Regulatory Authority’s approval to issue the sukuk.

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