Kuwait’s Gulf Investment Corp issues RM750mil sukuk

Gulf Investment Corp GSC, Kuwait (GIC) launched RM750mil (US$253mil) under its existing 20-year RM3.5bil (US$1.18bil) sukuk wakalah bi istithmar medium term notes programme (GIC sukuk).
This is the second issuance from the GIC sukuk and the fourth issuance from GIC in Malaysia since 2008.
The GIC sukuk has been accredited a long term rating of AAA by RAM Rating Services Bhd. This second issuance from the GIC sukuk in 2011 has a tenure of 5 years and has a semi-annual profit payment of 4.9% per annum.

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