Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Books over $1.5bn at launch at a spread of 80bp over Treasuries
Gulf issuance will take a pause due to the Eid holiday next weekend, but June could be busy
EM investors may be happy to see some senior supply after glut of tightly priced AT1
Strong local bids enable AT1 sukuk issuers to set yields far below where overseas buyers see fair value
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Azeri bankers are hoping that the country will have new Islamic finance legislation in place as early as the first quarter of this year. The new law would pave the way for International Bank of Azerbaijan (IBA) to launch a planned sukuk, which is likely to be backed by the bank's ijara portfolio, an IBA official told IFIS. -
Shariah compliant lender Gatehouse Bank kicked off a roadshow on Monday for its first commercial rental backed security (CRBS). The bank created the new Shariah compliant structure in order to break into the recovering European CMBS market, and the collateral features on the new product could eventually allow tighter pricing than conventional CMBS, a senior Gatehouse banker told GlobalCapital.
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Dubai Islamic Bank proved that Middle East bond issuers can launch successful deals even in a difficult market, said syndicate officials on the $1bn tier one perpetual sukuk. But the structure made it difficult to discern what kind of new issue premium the borrower had paid, and the bond has traded down in the secondary market.
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State Bank of Pakistan has allowed BankIslami Pakistan to conduct due diligence for the acquisition of KASB Bank, according to a press release from the Karachi stock exchange.
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Dubai Islamic Bank proved that Middle East issuers can launch successful deals even in a difficult market, said syndicate officials on the bank's recent $1bn tier one perpetual. But the structure made it difficult to discern what kind of new issue premium the borrower had paid, they added.
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Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.
