Middle East Economic Survey
GE Capital Issues Five-Year, $500Mn Sukuk
General Electric Capital, a unit of General Electric Company (GE), completed its five-year, $500mn inaugural Islamic bond issue on 19 November, becoming the first US corporate issuer of sukuk (Sharia compliant bonds). Proceeds are expected to be used for general corporate purposes. MEES learns that the settlement date was on 27 November; the GE sukuk will then mature on 26 November 2014. The...