Middle East Bonds
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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.
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Prospects of an Arab Spring country issuing international sukuk this year are dwindling, with Tunisia having postponed its plans for a debut deal.
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Prospects of an Arab Spring country issuing international sukuk this year are dwindling, with Tunisia having postponed its plans for a debut deal.
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Majid Al Futtaim, a shopping mall and hypermarket firm, sold the first hybrid perpetual deal from a Middle East company this week, printing an eight times subscribed $500m bond. Debt bankers hope it will rouse regional interest in the structure among other corporate borrowers.
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Majid Al Futtaim closed books on the first hybrid perpetual deal from a Middle East corporation on Wednesday morning. The borrower fixed the price on a $500m deal at 7.125%, after drawing more than eight times the necessary demand.
