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The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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Malaysia’s national mortgage provider, Cagamas Berhad is on track to issue its first foreign currency sukuk. The borrower made its foreign currency debut in conventional format just months ago and is now planning a $2.5bn multi-currency sukuk programme, which has received provisional ratings from a Moody’s and RAM Ratings. -
Bahraini Islamic lender Ibdar Bank has completed a $100m financing deal with Ethiopian Airlines to acquire four new aircraft, which marks the first Sharia compliant transaction in Africa’s aviation industry.
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A triumphant sovereign return, and an innovative socially responsible deal helped the sukuk market smash through its previous record year for issuance volumes. Unusual but impressive trades from Pakistan and the International Finance Facility for Immunisation (IFFIm) helped the growing asset class beat its previous annual dollar issuance record set in 2012 and put the gloss on a burgeoning fourth quarter run of deals.
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IFAAS, an Islamic consultancy, and Portillion Capital, an independent Islamic finance provider, have launched what they say is the UK’s first Shariah compliant seed enterprise investment scheme fund (SEIS).
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The Malaysian conglomerate DRB-HICOM has been given permission by the Malaysian Securities Commission to establish a MR2bn ($597m) musharaka programme.
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The State Bank of Pakistan has given permission to Meezan Bank to negotiate a possible acquisition of the Pakistan operations of HSBC Bank Oman (HBON). Meezan Bank is allowed by the state bank to undertake the due diligence and evaluation process for the transaction.
