Most recent/Bond comments/Ad
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Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
Bond pricing for the mining company started about 43bp back of its parent
Sovereign wealth fund takes $2bn, as aimed at
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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. -
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.
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Dubai Islamic Bank is set to price the Middle East’s first international bond of the year on Wednesday, after receiving more than $2bn in orders. The starting point was slightly higher than some syndicate officials away from the deal had expected, but given the Basel III compliant structure one investor felt the initial price thoughts offered fair value.
