Middle East Bonds
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Having taken its first taste of international sukuk this week, Dubai's Noor Bank plans to fund 10%-15% of its balance sheet through Islamic loans and bonds.
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Qatar-based Al Khaliji Commercial Bank sold its first ever privately placed medium term notes this week.
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Dubai-based Noor Bank sold a $500m debut sukuk on Wednesday, marking the first of what should be regular visits to the international sukuk market.
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Ahli United Bank sold its $400m tier one bonds on Wednesday, with leads having positioned the deal between Burgan Bank and National Bank of Kuwait.
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Bahrain’s Ahli United Bank has launched $400m of additional tier one notes at a yield of 6.875%, well inside the trading of comparable issuer Burgan Bank’s perpetuals though the deal is $100m smaller.
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Noor Bank sold a $500m debut sukuk on Wednesday, marking the first of what should be regular visits to the international sukuk market.
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Qatar-based Al Khaliji Commercial Bank sold its first ever privately placed medium term notes on Tuesday.
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Bahrain’s Ahli United Bank has released price guidance for its perpetual tier one bond at low 7% area. A syndicate official away from the deal called the guidance fair and said the deal would act as a test of Middle East liquidity after the fall in the oil price.
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Noor Bank broadened the Islamic bond market on Tuesday, offering investors a fresh new name although not a particularly appealing one. -
Dubai’s Noor Bank is planning a five year dollar sukuk and its lead managers are planning to open books for the deal on Tuesday.
