DAKAR (Reuters) – Senegal has issued a sukuk, or Islamic bond, worth 330 billion CFA francs ($541 million) to finance the acquisition of government buildings and other projects, a branch of the Islamic Development Bank Group said on Wednesday.
The bond was sold in three tranches of seven years, ten years and 15 years, said the Islamic Corporation for the Development of the Private Sector in a statement.
The Sukuk certificates will be listed on West Africa’s regional stock exchange, the Bourse Regionale des Valeurs Mobilieres (BRVM).
Senegal was the first African nation to issue a sovereign Sukuk and this is its third one since 2014, the statement said.
($1 = 610.2500 CFA francs)
(Reporting by Nellie Peyton; Editing by James Macharia Chege)
