Luxembourg’s €200m sukuk oversubscribed two times

Dubai: Luxembourg issued a €200 million (Dh930 million) sukuk, the first from a Eurozone country and a euro-denominated sovereign sukuk, and was supported by strong response from institutional investors.

“Islamic banking has witnessed double digit growth over the past decade and has seen increased liquidity, attracting attention from different regions and sovereigns. Specifically for sukuk,” said Jean-Christophe Durand, chief executive, BNP Paribas Middle East and Africa.

The sukuk was twice oversubscribed and priced at mid-swap of 2 bps.