Middle East Bonds

Dubai Islamic Bank is set to price the Middle East’s first international bond of the year on Wednesday, after receiving more than $2bn in orders. The starting point was slightly higher than some syndicate officials away from the deal had expected, but given the Basel III compliant structure one investor felt the initial price thoughts offered fair value.

National Bank of Abu Dhabi has hired Wynce Low as its first head of debt origination and distribution for South East Asia. The firm has raced up the international sukuk league table in recent years, and is hoping to drum up new business in sukuk and conventional format in Asia, the bank’s global head of debt origination told GlobalCapital.

National Bank of Abu Dhabi has hired Wynce Low as its first head of debt origination and distribution for South East Asia. The firm has raced up the international sukuk league table in recent years, and is hoping to drum up new business in sukuk and conventional format in Asia, the bank’s global head of debt origination told IFIS.

The Republic of Turkey re-opened the CEEMEA bond market in 2015 on Wednesday with a $1.5bn tap of its 2043s. Turbulence across EM and falling oil prices played to Turkey’s favour with the bond offering a haven to nervous investors. But as a result of the recent volatility, the country paid a decent new issue premium, bringing in a $5bn book.

Vakifbank will apply to Turkish authorities to establish a participation bank with $300m equivalent of paid up capital and a registered capital ceiling of TL1bn ($432m), the bank announced this week.Meanwhile, rival Turkish Islamic financial Bank Asya, while responding to an official investigation of its Bursa branch, completed a capital raise and announced the sale of a stake in Tamweel Africa Holding.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Debt bankers away from Dubai Islamic Bank’s perpetual sukuk roadshow are eying the deal as an indicator of what Middle East primary pricing will look like after the savage drop in oil prices zaps liquidity in the region.

Debt bankers away from Dubai Islamic Bank’s perpetual sukuk roadshow are eying the deal as an indicator of what Middle East primary pricing will look like after the huge drop in oil prices zaps liquidity in the region.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Bangladesh’s central bank has started providing regular auctions of Islamic bonds for domestic banks with Islamic operations to buy.

As the year draws to a close the international sukuk league table looks set. HSBC and Standard Chartered are safe in their traditional top spots. But the big winners this year are Middle East and Malaysian banks, who have fought their way up the sukuk league table at the expense of Western competitors