Al Waseelah PLC mandates Bedford Row Capital PLC for new USD250m First Bangladeshi Corporate Sukuk

(MENAFN- Green Target) Bedford Row Capital PLC (“BRC”), a global non-bank structuring specialist, today announces that it has been mandated by Al Waseelah PLC (“Issuer”) for a Sukuk bond offering of USD 250mln. The Sukuk will be listed on the Frankfurt Stock Exchange maturing 2028.

Bedford Row Capital PLC alongside International Lead Manager BlueMount Capital will structure the first Bangladeshi Corporate Sukuk to help Deshbandhu Group Limited (DGL) in their next growth phase. The Sukuk will finance the repayment of current outstanding debt, invest in new technology and scale up capacity of its group businesses.

BRC and BlueMount Capital will assist DGL with 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 is followed by launching a data room for a bookbuild phase.

Dr Scott Levy, CEO of BRC, said: “Being awarded this Sukuk mandate is a significant achievement as 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 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.”

MENAFN11032021005450012090ID1101736590