Middle East Bonds

Saudi industrial firm Mohammed Abdulaziz Al-Rajhi & Sons Co is set to sign a Sr580m ($155m) Shariah-compliant financing facility with Bank Al Jazira.

The Central Bank of Bahrain has sold BD20m of short term sukuk al ijara – the same size as its previous issue but paying a higher rate.

Egypt plans to replace its sukuk law with a chapter in the securities law, according to local media reports.

Conditions for issuing bonds and sukuk in Dubai look great, but mid-way through January there is still barely a glimmer of a deal. Those borrowers that need to come to market this year would do well not to miss their chance.

Qatar’s central bank will issue QR11bn ($3.02bn) of sukuk and QR13bn of conventional bonds on Thursday

Albaraka Turk plans to issue $300m to $400m of sukuk this year – up to twice the amount it previously indicated.

Saudi chemicals and petrochemicals company Nama has signed a Sr125m Islamic financing agreement with Saudi Hollandi.

Oman plans to issue Or200m ($520m) of sovereign sukuk this year as the government looks to address its budget deficit.

Saudi Electricity Co (SEC) is returning to the local sukuk market and will begin road shows to potential investors for its riyal denominated sukuk on Thursday.

The Saudi British Bank has issued Sr1.5bn ($399m) of privately placed tier two sukuk. It is the second Saudi bank to do so this week after Saudi Hollandi sold Sr2.5bn of sukuk on Sunday.

The Central Bank of Bahrain has sold Bd20m of short term sukuk al ijara, with the auction oversubscribed at 100% — a 40% drop from last month’s subscription.

Saudi Hollandi Bank has issued Sr2.5bn ($666.6m) of tier two sukuk.