LONDON, (IFR) – South Africa is not planning to issue a US dollar-denominated sukuk in 2015, though it may print one in 2016, according to a funding official.
“It’s quite possible there will be a sukuk at some point,” Tshepiso Moahloli, director of debt issuance and management in South Africa’s national treasury, told IFR on the sidelines of a Euromoney conference, late on Wednesday. “There will not be one this year. It may be next year.”
South Africa is also planning on issuing a domestic sukuk in rand. “We want to introduce sukuk locally,” Moahloli said. “Something that our local retail investors will have to invest in.” South Africa printed its debut US$500m five year sukuk in September last year. The sovereign is rated Baa1 by Moody’s, BBB- by Standard & Poor’s and BBB by Fitch.
Originally published on www.reuters.com