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Emerging Markets - Islamic Finance

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Latest stories

  • Sukuk bookrunners at HSBC’s heels as supply soars to record levels

    The sukuk market has managed a record first half volume this year, although with the Greek debacle threatening a long and volatile summer debt bankers have doubts a full year record is possible.

    • 02 Jul 2015
  • Competitors erode HSBC's sukuk supremacy

    HSBC sits in its traditional top stop in the sukuk league table halfway into to what should be a record year for international benchmark issuance. But its lead has shrunk to the smallest margin in five years, with regional banks snapping at its heels.

    • 02 Jul 2015
  • Apicorp plots sukuk path

    Arab Petroleum Investments Corp (Apicorp) is likely to bring its debut sukuk deal in September, and has ambitious price plans for the first issue of its newly rated sukuk platform, according to debt bankers.

    • 01 Jul 2015
  • IFFIm firms up sukuk mandate

    The International Finance Facility for Immunisation (IFFIm) has lead managers lined up for a rare social responsible investment (SRI) sukuk.

    • 30 Jun 2015
  • IFC picks banks for sukuk return

    The International Finance Corporation (IFC) has chosen the lead managers for its first sukuk in six years.

    • 30 Jun 2015
  • Capital markets look forward to brighter 2016

    Turkey’s capital markets may be in a tough spot, but they have been here before. Much, both for Turkey and for its ardent and admiring league of global investors, depends on securing political stability, then ensuring that the country gets the sort of reform-minded political leaders that it needs. Then and only then will there be a strong pick-up in capital markets activity. Elliot Wilson reports.

    • 19 Jun 2015
  • Supra eyes return to sukuk issuance

    A supranational issuer is considering bringing a sukuk later this year, which would be its first issuance in the format for nearly six years.

    • 18 Jun 2015
  • Sukuk supply on track for record year

    As Ramadan begins, the international sukuk market’s run rate is on track to make 2015 the largest year for issuance ever. Several mandates have recently been added to the pipeline, giving fresh fuel to the sukuk sector’s fire.

    • 18 Jun 2015
  • Supranational mulls sukuk return

    A supranational issuer is considering bringing a sukuk later this year, which would be its first issuance in the format for nearly six years.

    • 17 Jun 2015
  • IFFIm eyes second SRI sukuk

    The International Finance Facility for Immunisation (IFFIm) is planning a second sukuk deal, and should announce the transaction in the next few weeks, said bankers familiar with the borrower’s plans.

    • 17 Jun 2015
  • Disquiet in the dunes as Middle East bond fees take a hit

    Three heads of MENA DCM in Dubai have told GlobalCapital that regional corporate bond fees have been crunched over the last year and two of those expressed concern as to how this is affecting the the quality of execution in the region.

    • 09 Jun 2015
  • Saudi corporates could follow sovereign sukuk return

    A Saudi sovereign sukuk and corporate debt market reform would help prompt Saudi firms to turn to Islamic bond issuance, Fitch analysts said.

    • 09 Jun 2015
  • Khazanah ahead of its time with SRI sukuk

    Khazanah Nasional took a huge step forward for socially responsible investment (SRI) in Malaysia this month with the country’s first sukuk in the sector, adopting a unique structure that could see investors’ pay-out reduced. It is a bold move for social reform, but Khazanah’s SRI sukuk may be a bit too ahead of its time.

    • 09 Jun 2015
  • MENA pipeline builds but signs of fatigue appear

    Bank of Sharjah priced its first international bond deal on Monday, while National Bank of Abu Dhabi and Drake & Scull International added their names to the Middle East pipeline. But there are signs the run of Middle East deals is leading to fatigue in the conventional market.

    • 04 Jun 2015
  • Investors on the hook in first SRI sukuk from Malaysia

    Malaysia’s Khazanah Nasional has priced the first ringgit-denominated socially responsible investment (SRI) sukuk. The product was a strong test of investor commitment to SRI goals as it uses a structure that pays less if the underlying education project is successful, writes Christina Khouri.

    • 04 Jun 2015
  • Khazanah issues first Malaysian SRI sukuk

    Malaysia’s Khazanah Nasional has priced the first ringgit-denominated socially responsible investment (SRI) sukuk. The product was a real test of investor commitment to SRI goals as it uses a structure which pays less if the underlying education project is successful.

    • 04 Jun 2015
  • UAE Islamic appetite on the rise, but risk and return trump ethics

    Almost 80% of United Arab Emirate investors surveyed by asset manager Franklin Templeton are interested in Shariah compliant investments. But almost two-thirds are attracted by factors other than ethics, according to firm's survey.

    • 01 Jun 2015
  • DIB increases deal size while Bank of Sharjah takes its time

    Dubai Islamic Bank (DIB) ended up printing a larger than initially intended senior unsecured sukuk on Wednesday without compromising on spread, said bankers on the deal. Bank of Sharjah, meanwhile, is on track to continue the Middle East’s dominance of CEEMEA with a benchmark debut conventional deal.

    • 28 May 2015
  • Hong Kong cements return with landmark wakala bond

    Hong Kong has taken another step in its bid to become a regional Islamic financing hub, pricing a new $1bn sukuk this week. But rather than repeat the common ijara structure that it adopted in 2014, this time around the government chose an asset-light wakala format to set a new benchmark for its private sector, writes Rev Hui.

    • 28 May 2015
  • ADIB eyes tier one increase

    Abu Dhabi Islamic Bank (ADIB) will ask shareholders to raise the banks’ tier one sukuk programme from $2bn to $3bn to keep track with ADIB’s expansion.

    • 28 May 2015

More Islamic Finance stories

Islamic Finance data

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Jun 2015
1 HSBC 24,568.18 148 10.46%
2 Citi 22,974.87 116 9.79%
3 JPMorgan 17,501.47 78 7.45%
4 Deutsche Bank 16,118.47 87 6.87%
5 Morgan Stanley 14,151.38 61 6.03%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Jun 2015
1 Morgan Stanley 6,468.86 16 12.02%
2 HSBC 6,361.31 17 11.82%
3 Citi 6,311.13 25 11.73%
4 Bank of America Merrill Lynch 6,094.38 23 11.33%
5 Deutsche Bank 5,394.16 16 10.03%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Jun 2015
1 Citi 6,277.25 31 6.30%
2 JPMorgan 4,576.40 16 4.60%
3 HSBC 4,238.36 24 4.26%
4 SG Corporate & Investment Banking 3,308.83 14 3.32%
5 BNP Paribas 2,850.41 14 2.86%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 29 Jun 2015
1 Goldman Sachs 274.16 82 10.39%
2 JPMorgan 237.22 73 8.99%
3 Lazard 172.69 77 6.55%
4 Citi 169.41 53 6.42%
5 Deutsche Bank 150.91 51 5.72%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Jun 2015
1 Mitsubishi UFJ Financial Group 791.69 3 9.92%
2 Bank of America Merrill Lynch 756.72 4 9.49%
3 ING 622.38 6 7.80%
4 SG Corporate & Investment Banking 608.35 6 7.63%
5 UniCredit 591.37 7 7.41%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Jul 2015
1 AXIS Bank 2,908.93 77 13.80%
2 Standard Chartered Bank 2,212.09 32 10.50%
3 Trust Investment Advisors 2,090.40 75 9.92%
4 Barclays 1,746.31 28 8.29%
5 ICICI Bank 1,688.32 43 8.01%