Middle East Bonds
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The International Finance Facility for Immunisation (IFFIm) has priced a $500m debut sukuk at just 15bp over three month Libor, the tight end of its earlier 15bp-17bp guidance range.
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The International Finance Facility for Immunisation (IFFIm) has priced a $500m debut sukuk at just 15bp over three month Libor, the tight end of its earlier 15bp-17bp guidance range. -
The International Finance Facility for Immunisation (IFFIm) has refined price thoughts on its dollar sukuk debut to 15bp-17bp over Libor.
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The International Finance Facility for Immunisation (IFFIm) has given initial price thoughts of mid-to-high teens of basis points over three month Libor as it looks to price a debut dollar sukuk.
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Advanced Petrochemical Company has repaid the remaining Sr375m of a murabaha loan.
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The International Islamic Liquidity Management Corporation on Tuesday auctioned $590m of three month commercial paper style sukuk – increasing the amount of paper in circulation at reissue by $200m.
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Israel Chemicals pulled in a $4.3bn book for its debut bond on Thursday, proving that quality still sells in a market where several deals have been pulled this week, including by KazStroyService on Monday and South Africa’s FirstRand Bank on Thursday.
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Flydubai printed a debut sukuk on Wednesday, receiving more than $3bn in orders for its five year dollar deal.
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Bahrain’s sovereign wealth fund, Mumtalakat, priced a seven year debut sukuk on Tuesday which debt bankers said came flat to or even inside the sovereign curve. They put this down to credit quality, scarcity value and exceptional liquidity in the Middle East but added that the additional rarity of the sukuk format was also a contributing factor, which other potential issuers should do well to note.
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Israel Chemicals has released initial price thoughts for a 10 year note, copying the form set by Israel Electric — which printed the same tenor on November 5.
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Israel Chemicals is out with initial price thoughts for a 10 year note and follows hot on the heels of Israel Electric which printed the same tenor on November 5.
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Flydubai has launched its $500m five year sukuk at 200bp over mid-swaps. The deal will be priced later on Wednesday afternoon, with the lead managers on the trade disclosing that they will be taking a piece of the sukuk.
