Most recent/Bond comments/Ad
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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Dubai World's announcement this week that it is closing in on another restructuring of its $14.6bn debt promise a big and timely kick of the can down the road for the emirate. But the overall picture for Dubai is deteriorating, structural problems remain and investors should strap themselves in for the bumpiest ride since the financial crisis. -
Dubai World, which is trying to restructure its $14.6bn debt burden for the second time in four years, has received the backing of more than two thirds of its creditors, the state-owned investment company has said.
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National Bank of Abu Dhabi has hired Wynce Low as its first head of debt origination and distribution for South East Asia. The firm has raced up the international sukuk league table in recent years, and is hoping to drum up new business in sukuk and conventional format in Asia, the bank’s global head of debt origination told IFIS.
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Pakistani financial NIB Bank has appointed Atif Bokhari as its new director and chief executive officer.
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The Republic of Turkey re-opened the CEEMEA bond market in 2015 on Wednesday with a $1.5bn tap of its 2043s. Turbulence across EM and falling oil prices played to Turkey’s favour with the bond offering a haven to nervous investors. But as a result of the recent volatility, the country paid a decent new issue premium, bringing in a $5bn book.
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Vakifbank will apply to Turkish authorities to establish a participation bank with $300m equivalent of paid up capital and a registered capital ceiling of TL1bn ($432m), the bank announced this week.Meanwhile, rival Turkish Islamic financial Bank Asya, while responding to an official investigation of its Bursa branch, completed a capital raise and announced the sale of a stake in Tamweel Africa Holding.
