Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Another Dubai real estate firm priced fresh sukuk well inside its curve
After a very busy period since June began, the pipeline has thinned out
Another Saudi lender is preparing a senior debut
Strong performance of recent Gulf capital deals bodes well for the upcoming sale
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The UK’s Chartered Institute of Public Finance and Accountancy (CIPFA) is looking into how local authorities and public bodies could use Islamic finance as a source of borrowing. Sukuk issuance is likely to prove overly complex, but mudaraba and murabaha loans could be a good match, a CIPFA official told IFIS. -
Fund and asset manager London Central Portfolio (LCP) will close its second ever shariah complaint residential mortgage fund at the end of November and its hoping to place up to a third of the £100m target with Muslim investors.
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Two Turkish financial institutions, Isbank and TSKB, braved the market this week with new issue premiums that edged lower than recent comparable deals, showing how the market has stabilised since Yapi Kredi printed its bond on October 15.
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Falah Capital, the only Islamic exchange traded fund (ETF) listed on the New York Stock Exchange, has outperformed broader US market indices in its first week weeks, the company’s chief executive told IFIS. The dearth of passively managed Islamic funds in the US stands in stark contrast to growing appetite for such products, and Falah Capital’s CEO is hoping to watch the fund grow in size several times by the end of the year.
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Shariah compliant insurance agency Cobalt Underwriting is partnering with AIG as both firms seek to further their global reach. The agreement highlights the growing importance of London as a hub for Islamic insurance, which will only increase with the planned creation of a London-based Islamic insurance body with global ambitions, industry practitioners told IFIS.
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Turkish Development Bank Türkiye Sınai Kalkınma Bankası printed its $350m bond at 380bp over mid-swaps on Tuesday, ratcheting in pricing 20bp inside initial price talk and building a $1.3bn book. But leads estimated that the note still needed to pay a double digit new issue premium as investors remained cautious after last week’s volatile market.
