Middle East Bonds
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The government of Ras Al Khaimah (RAK) drew strong global demand on Tuesday as it issued a $500m sukuk, its first ever benchmark sized deal.
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The government of Ras Al Khaimah (RAK) is set to issue a $500m sukuk, its first ever benchmark sized deal, and has launched at a spread tighter than the initial price thoughts it gave on Monday.
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The government of Ras Al Khaimah (RAK) issued a $500m sukuk on Tuesday, its first ever benchmark sized deal, having launched at a spread tighter than the initial price thoughts it gave on Monday.
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The government of Ras Al Khaimah (RAK) has given initial price thoughts of 200bp over mid-swaps area on a dollar denominated sukuk — its first issue since mid-2009.
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The Arabian Company for Water and Power Development (Acwa) plans to issue an $800m debut sukuk in the fourth quarter, ahead of an initial public offering next year.
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The government of Ras Al Khaimah (RAK) has given initial price thoughts of 200bp over mid-swaps area on a dollar denominated sukuk — its first issue since mid-2009.
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The sukuk market returned to form this week, sweeping US shutdown concerns aside with two popular and tightly priced benchmark dollar deals.
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The Arabian Company for Water and Power Development (Acwa) plans to issue an $800m debut sukuk in the fourth quarter, ahead of an initial public offering next year. -
The sukuk market returned to form this week, sweeping US shutdown concerns aside with two popular and tightly priced benchmark dollar deals.
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Islamic banks in the Gulf Co-operation Council area are likely to grow faster than their conventional counterparts and increase their share of regional banking assets, said Standard & Poor's on Tuesday. But profitability rates for the two banking models are converging as Islamic banks are suffering from lower interest rates and lower revenues from non-core banking operations than their conventional peers, the rating agency added.
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Islamic banks in the Gulf Co-operation Council area are likely to grow faster than their conventional counterparts and increase their share of regional banking assets, said Standard & Poor's on Tuesday. But profitability rates for the two banking models are converging as Islamic banks are suffering from lower interest rates and lower revenues from non-core banking operations than their conventional peers, the rating agency added.
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Abu Dhabi bank Al Hilal drew a $6.3bn book as it priced a $500m five year debut sukuk at 170bp over mid-swaps, inside the 190bp guidance it gave on Monday.
