GFH signs agreement to acquire $200m Villamar sukuk

Dubai:

GFH Financial Group said it has signed an agreement to acquire $200 million of Villamar Sukuk Company Limited, Sharia Compliant Sukuk Certificates, from Al Rajhi Bank.

The acquisition is expected to reflect positively on GFH’s financials during the second half of 2018, due to the agreed discount for this transaction, GFH said in a statement.

The Sukuk were issued in 2008 to finance the iconic Villamar project in the Kingdom of Bahrain.