Capital Market Partners to Lead New USD250m Sukuk, First Bangladesh Corporate Sukuk In International Markets
BlueMount Capital (WA) Pty Ltd (“BlueMount”) and Bedford Row Capital PLC (“BRC”) will act as International Lead Manager and Structuring Agent respectively for a new US$250m Sukuk offering to be listed on the Frankfurt Stock Exchange.
BRC, a global non-bank structuring specialist, has been mandated by Al Waseelah PLC (“Issuer”) whilst BlueMount was appointed by Deshbandhu Group Limited (“DGL”) to lead the first Bangladeshi Corporate Sukuk to help DGL in their next growth phase. The Sukuk will finance the repayment of current outstanding debt and to invest in new technology and scaling up capacity of its group businesses.
DGL has grown into one of the largest and most successful Conglomerates of Bangladesh with operations across several sectors and employing approximately 11,000 people. The Group has established and acquired subsidiaries and controlled entities with interests in 16 businesses covering food, fibre and textiles, trading, power, and property.
The foundation of DGL is based on the philosophy “Friend of the Country and its People”. Based in one of the fastest growing economies in the world, DGL takes its role in society profoundly and seriously by offering healthcare, housing for women, schooling for kids and access to hospitals. DGL’s operations are in line with the UN SDGs of Good Health and Well-Being, No Poverty, Decent Work and Economic Growth and Quality Education.
BRC and BlueMount Capital are working with DGL on the preparation of the legal documentation, structures, teasers, draft investment memorandum and comprehensive corporate presentation packs which will be distributed to prospective institutional investors. This will be followed by launching a data room for a bookbuild phase.
Dr Saliba Sassine, Managing Director of BlueMount Capital, said: “We are pleased to be part of the first international Sukuk issuance by a private corporation from Bangladesh, the next Asian Tiger economy and one of the fastest growing economies in the world. We are committed to providing innovative financing solutions for companies wanting to access the Sukuk market.”
Dr Scott Levy, CEO of BRC, said: “we are delighted to be awarded this Sukuk mandate. It is the first corporate Sukuk out of Bangladesh and will be the blueprint for more issuance out of this region. We are devoted to providing our expertise to this growing market segment and to support issuers and investors with attractive options from this growing market.
Dr Saliba Sassine, Managing Director firstname.lastname@example.org
BLUEMOUNT CAPITAL is the leading national mid-tier investment bank in Australia with offices in Brisbane, Melbourne, Perth, and Sydney. The group provides corporate finance advice on cross border transactions including placements, M&A, capital structuring and IPOs.
BEDFORD ROW CAPITAL PLC (“BRC”) is an award-winning provider of global structured securities solutions which includes the issuance of investment grade bonds, senior secured conventional debt, short-dated notes, delta-one trackers and Shari’a compliant certificates. The use of standard settlement infrastructure, combined with Bedford Row’s proprietary information systems, offers an innovative level of transparency and security for both issuers and investors. In a fast-growing market, Bedford Row is ranked inside the top 100 originators and one of the leading non-banks in the market.