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Inaugural Domestic Rand Sukuk Sale Delayed


South Africa delayed its first sale of domestic, rand-denominated sukuk, one of the lead managers confirmed to Bloomberg.

  • The auction was set to take place on Thursday with settlement on October 17, according to a National Treasury presentation distributed last month.
  • “We did notify the market when the legals were distributed that there was a delay and we will be providing a new auction date in the next few days,” the head of debt capital markets at RMB said in an emailed response to Bloomberg’s questions.
  • A reason was not provided for the delay, though Bloomberg note that the Treasury would comment later.

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