Middle East Bonds
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Damac Real Estate Development has launched $650m of sukuk – more than the planned $500m – and set the deal well inside initial guidance. -
Saudi Electricity Co sold $2.5bn of dollar sukuk late on Tuesday – its biggest ever offering – inside initial guidance.
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Saudi Electricity Co sold $2.5bn of dollar sukuk late on Tuesday – its biggest ever offering – inside initial guidance.
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Investors bought more dollar sukuk in 24 hours, between Tuesday and Wednesday, than they did in the whole of the first quarter, as Damac Real Estate Development went big with $650m and added to Saudi Electricity Co’s bumper $2.5bn.
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Saudi Electricity Company has given initial price thoughts of 4.25% to 4.375% on the 10 year tranche of its sukuk offering – a level that some investors think is generous.
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Damac Real Estate Development has drawn over $1bn of orders after opening books on its benchmark size five year debut dollar sukuk.
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After finishing last year at the top of the CEEMEA bond bookrunner league tables, Deutsche Bank has slipped to eighth position in Dealogic’s ranking for the first quarter of this year.
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Damac Real Estate Development has drawn over $1bn of orders after opening books on its benchmark size five year debut dollar sukuk.
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Saudi Electricity Company has given initial price thoughts of 4.25% to 4.375% on the 10 year tranche of its sukuk offering – a level that some investors think is generous.
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Saudi Electricity Company has sold $2.5bn worth of dollar sukuk – its biggest ever offering – inside initial guidance.
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Damac Real Estate Development has tightened its debut sukuk to 325bp over mid-swaps area as orders rose to $2.25bn for the five year dollar benchmark deal.
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Tunisia’s debut sovereign sukuk placement is being delayed until the end of this year or the beginning of 2015, according to an official at the ministry of finance. Tunisia originally planned to issue in the first half of 2014.
