Middle East Bonds

Mubadala GE Capital priced its $500m five year bond on Wednesday from a book of $1.3bn, having won large demand from accounts in North America looking for exposure to GE.

Israel Electric Company on Wednesday printed its $1.25bn 10 year bond at the tight end of price guidance and flat to the company’s existing curve. The book for the note was $3bn.

Mubadala GE Capital has released initial price guidance for its $500m no grow five year bond of 150bp-162.5bp over mid-swaps.

Israel Electric has released initial price thoughts at 275bp area over mid-swaps for a 10 year dollar benchmark. The guidance equates to around a 15bp premium over the company’s 2023s, which were trading around 260bp-261bp over mid-swaps.

The Bank of England's unveiling of plans to look into providing Shariah liquidity facilities for UK Islamic banks was one of the highlights at last week’s World Islamic Economic Forum in Dubai. It’s a great idea, but there’s just one problem – this should have been done ages ago.

International sukuk issuance is on the cusp of a record year, and so far in 2014 has made up the largest proportion of total sukuk supply since 2007, according to IFIS data.

DIFC Investments built an orderbook of over $3bn for a $700m 10 year sukuk that it priced on Tuesday. UAE buyers short of fresh paper — and sukuk in particular — took the bulk of the deal, which pulled other Dubai sukuk tighter in its wake.

DIFC Investments has squeezed the pricing on its offering of a 10 year benchmark dollar sukuk, tightening the spread range for a second time to 185bp-190bp over mid-swaps at final guidance. DIFCI expects to price the Reg S sukuk within that range.

DIFC Investments built an orderbook of over $3bn for a $700m 10 year sukuk that it priced on Tuesday. UAE buyers short of fresh paper — and sukuk in particular — took the bulk of the deal, which pulled other Dubai sukuk tighter in its wake.

DIFC Investments opened books for a 10 year benchmark sukuk issue on Monday morning, with pricing scheduled for later this week. Investors predicted the deal would be priced slightly inside the curve of Jebel Ali Free Zone Authority. But the DIFCI leads have already boldly set the starting spread inside Jafza's sukuk curve.

DIFC Investments opened books for a 10 year benchmark sukuk issue on Monday morning, with pricing scheduled for later this week. Investors predicted the deal would be priced slightly inside the curve of Jebel Ali Free Zone Authority. But the DIFCI leads have already boldly set the starting spread inside Jafza's sukuk curve.

Bahrain’s sovereign wealth fund Mumtalakat has picked banks for a sukuk sale. The borrower has set up a new programme allowing conventional and Islamic issuance, and will use the proceeds to repay upcoming maturities.