[Reuters] Sudan hopes to sell Islamic bonds worth 765 million pounds after the last issue flopped and eyes 3.6 billion pounds in 2011 despite uncertainty over of a split from the south, a senior debt official said. The African country relies on the domestic debt market as U.S. sanctions mostly deny access to international markets. But Arab banks have started setting shop in Sudan and up to 12 pct of previous debt issues came from abroad. Sudan started on Sunday the sale of a $286 million sukuk of which 47 pct was now covered, said general manager of state-owned Sudan
Financial Services Co which issues sukuk on behalf of the government. "Demand is better than we had expected after weak demand for an issue in February," he added. |
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