Middle East Bonds
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Kuala Lumpur based RAM Ratings has pledged to support the development of local currency sukuk markets in the Gulf region, after being accepted as Malaysia’s first member of the Gulf Bond and Sukuk Association on Monday. -
FWU Group has closed the second tranche of its $100m sukuk al wakala programme.
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Damac Real Estate Development's sukuk this week has blazed a trail for sub-investment grade borrowers as Middle East investors start to migrate down the credit spectrum. Bankers close to the $650m deal said that Damac’s tight print at 310bp over mid-swaps late on Wednesday would serve as great encouragement for double B and single B rated names to come to market, including those that have not done so before.
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Saudi Electricity Co priced $2.5bn of dollar sukuk late on Tuesday — its biggest ever offering — inside initial guidance.
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Saudi Electricity Co priced $2.5bn of dollar sukuk late on Tuesday — its biggest ever offering — inside initial guidance.
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Damac Real Estate Development's sukuk this week has blazed a trail for sub-investment grade borrowers as Middle East investors start to migrate down the credit spectrum.
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Damac Real Estate Development’s debut sukuk helped get Middle Eastern capital market volume off to a strong start for the second quarter, as the company priced a bigger than expected $650m inside guidance late on Wednesday, with over $2.7bn of orders.
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International Telecommunications Group Batelco is buying back $131.4m of its 2020 bonds, and expects to settle the transaction on Friday. The Bahraini issuer paid a decent premium for the tender offer, designed to use excess cash on its balance sheet, said a banker on the deal.
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Damac Real Estate Development’s debut sukuk helped get Middle Eastern capital market volume off to a strong start for the second quarter, as the company priced a bigger than expected $650m inside guidance late on Wednesday, with over $2.7bn of orders.
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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.
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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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Saudi Electricity Co sold $2.5bn of dollar sukuk late on Tuesday – its biggest ever offering – inside initial guidance.
