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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
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BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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