New Energy World Network: Connecting Investors, Innovators & Deal-Makers worldwide

Essential industry insights

cleantech --- renewables --- sustainability

Advanced
Search

Millennium Private Equity invests in Islamic bond issued by International Innovative Technologies

31 Aug 2010

Millennium Private Equity (MPE), which is owned by Dubai Islamic Bank and United Gulf Bank, has invested in an Islamic bond issued by clean technology development company International Innovative Technologies (IIT), according to reports.

The value of the deal has not been disclosed but it is the first Islamic bond in the UK and is structured to be compliant with Shari’ah principles and provides the investor with synthetic preffered rights and dividends.

IIT manufactures a range of high output mills with modular designs and bespoke processing systems.

The company is based in north-east UK and its products are used by aggregates, construction and recycling businesses.

According to reports, Dubai-based MPE said the transaction provides a framework within which traditional investors looking for preferred returns and rights can structure the investment and still be Shari’ah compliant.

Copyright © 2010 NewNet

Tags: , ,


Related Posts


Leave a Reply

You must be logged in to post a comment.

Legals & Terms of UsePrivacy & Cookies Policy

NewNet is a trading name of New Energy World Network Ltd, registered in England (No. 06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © New Energy World Network (NewNet) 2008-2014