KUWAIT: Yusuf A. Alghanim & Sons Automotive Company has commenced the issuance of its first medium-term Sukuk.
Islamic investment firm Rasameel Structured Finance Company is the lead arranger and program manager of the transaction; which will comprise the periodic issuance of short-term credit facilities in tranches and in tenors between 18-24 months.
Rasameel is also the sole mandated structuring and Shariah advisor for the transaction.