- Benin sounds out investors on first international sukuk
- Deal could raise $1bn alongside dollar bond reopening
COTONOU, BENIN – Benin is exploring whether Islamic finance can open a new funding channel as it prepares a cautious return to international debt markets.
After years of relying on conventional euro and dollar bonds, the West African state has begun testing investor appetite for a potential sovereign sukuk, according to people familiar with the discussions. Government officials met investors in London last week to gauge demand for a transaction that could include a seven-year Islamic bond alongside a reopening of existing dollar notes.
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