Middle East Bonds
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International Islamic Financial Market has held an industry consultative seminar on sukuk restructuring in Bahrain.
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The new issue premium for the First Gulf Bank $500m long five year conventional deal was under debate on Wednesday morning as the note performed weakly in the secondary market the day after pricing.
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First Gulf Bank opened books on a five year dollar deal on Tuesday morning, which debt bankers away from the sale said offered a decent new issue premium.
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Tilal Development, owner of the Muscat Grand Mall and part of Al Madina Real Estate has completed a OR50m ($130m) ijara sukuk – the first corporate sukuk in Oman.
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The Islamic Development Bank (IsDB) plans to list its $10bn sukuk programme on the Nasdaq Dubai.
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Dubai-based international schools operator GEMS Education unveiled plans for a perpetual sukuk this week as it began roadshows for a benchmark debut of around $500m. The deal would be a first, not only for the company, but for the Middle East, which saw Majid Al Futtaim issue the region’s first ever conventional corporate hybrid perpetual just last week. -
International Bank of Azerbaijan and Mashreq Bank returned to the Eurobond market this week and bankers expect them both to be more active in 2014.
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Dubai-based international schools operator GEMS Education unveiled plans for a perpetual sukuk this week as it began roadshows for a benchmark debut of around $500m. The deal would be a first, not only for the company, but for the Middle East, which saw Majid Al Futtaim issue the region’s first ever conventional corporate hybrid perpetual just last week.
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Saudi Hollandi Bank shareholders have approved the bank’s plans to issue sukuk to boost its Basel III compliant capital.
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Schools operator GEMS Education is holding roadshows as it looks to issue a benchmark - around $500m - debut perpetual sukuk.
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Arab Banking Corporation has appointed Khaled Kawan as its president and chief executive, making the position permanent after Kawan was put in temporary charge in April.
