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FINANCIAL NEWS
RAK offers to buy back $325m bonds
25 Nov 2010
(MENAFN) Ras Al Khaimah has offered to buy back $325 million of Islamic bonds maturing in 2012 at face value or swap them with new securities due in 2016, Gulf News reported.
Bondholders will also receive an early redemption premium of $20 per $1,000 face value, according to a statement dated November 15 from the Ras Al Khaimah government.
Investors may also swap up to $150 million of the securities for debt due in 2016 to be sold by RAK Capital, according to the statement.
Citigroup Inc and Royal Bank of Scotland Group Plc are managing the sale, according to the statement.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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