Middle East Bonds
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Qatar’s central bank will issue QR11bn ($3.02bn) of sukuk and QR13bn of conventional bonds on Thursday
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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.
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Oman plans to issue Or200m ($520m) of sovereign sukuk this year as the government looks to address its budget deficit.
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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.
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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.
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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.
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Saudi Hollandi Bank has issued Sr2.5bn ($666.6m) of tier two sukuk.
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Predicting volume for sukuk can be more difficult than for emerging market bonds, given the sukuk market is still in a nascent stage and many issuers are coming to the asset class for the first time. It is widely expected, however, that dollar sukuk issuance will surpass this year’s figure in 2014.
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Predicting volume for sukuk can be more difficult than for emerging market bonds, given the sukuk market is still in a nascent stage and many issuers are coming to the asset class for the first time. It is widely expected, however, that dollar sukuk issuance will surpass this year’s figure in 2014.
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The UK government is in discussions with the Turkish treasury, among other countries, as it targets next financial year for its debut £200m sukuk.
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Iran plans to issue up to €12.5bn of sukuk and contribution bonds in its coming year to finance projects, with the country’s oil ministry taking a €9bn share of the finances.
