Middle East Bonds
-
Dar Al Arkan has built an order book of $700m for its sukuk of up to $450m, offering a 13bp-25bp new issue premium according to a lead manager and an investor. Price guidance has been released at 6.75% area for the five year deal.
-
The World Bank has begun a multi-faceted drive in Islamic finance that should see at least one sukuk come to market before the end of the year, according to senior officials at the organisation.
-
Abu Dhabi Commercial Bank ended a seven year absence from the Australian dollar market on Tuesday to continue this year’s run of successful Kangaroo bonds from the MENA region. Some analysts are expecting the Australian dollar to weaken and this could dent demand from some investors. But the benefits the Kangaroo market offers are likely to counter any drop in the currency, said debt bankers.
-
Dar Al Arkan plans to raise up to $450m in a five year dollar denominated sukuk, with initial price thoughts at "high 6%", as the Saudi Arabian real estate firm looks set to make its return to the international Islamic bond market.
-
Dar Al Arkan plans to raise up to $450m in a five year dollar denominated sukuk, with initial price thoughts at "high 6%", as the Saudi Arabian real estate firm looks set to make its return to the international Islamic bond market. -
Saudi Arabian property developer Dar Al Arkan has picked banks as it plans to return to the sukuk market by issuing its first dollar deal since November.
-
The World Bank has begun a multi-faceted drive in Islamic finance that should see at least one sukuk come to market before the end of the year, according to senior officials at the organisation.
-
The Investment Corporation of Dubai’s $1bn dual tranche issue this week has been hailed by bankers both as a triumph of sukuk over conventional bonds and a clarion call for prospective Middle East borrowers to be more flexible in their execution.
-
-
The Investment Corporation of Dubai’s $1bn dual tranche issue this week has been hailed by bankers both as a triumph of sukuk over conventional bonds and a clarion call for prospective Middle East borrowers to be more flexible in their execution.
-
Bahrain-based alternative asset manager Investcorp made its Swiss franc debut on Thursday afternoon, increasing the size of a five year deal in response to strong demand from retail investors drawn in by a juicy coupon.
-
Risk weighting, credit ratings and the Dubai government itself have all been cited as contributing factors after the emirate’s sovereign wealth fund cut the size of its conventional bond offering in favour of a shorter dated sukuk.
