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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DIFC Investments opened books for a 10 year benchmark sukuk issue on Monday morning, with pricing scheduled for later this week. Investors predicted the deal would be priced slightly inside the curve of Jebel Ali Free Zone Authority. But the DIFCI leads have already boldly set the starting spread inside Jafza's sukuk curve. -
Bahrain’s sovereign wealth fund Mumtalakat has picked banks for a sukuk sale. The borrower has set up a new programme allowing conventional and Islamic issuance, and will use the proceeds to repay upcoming maturities.
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The Grand Duchy of Luxembourg intends to issue another sukuk, but is investigating different ways of structuring its second deal.
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Battersea Power Station closed a £1.35bn syndicated debt facility this week, which contained one of the largest ever sterling denominated Islamic tranches. UK based Islamic bankers felt the deal was strong demonstration of how international Islamic finance had become. Although debt bankers on the transaction argued it said more about Malaysia’s desire to promote Islamic finance.
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Bank Muscat is planning the first sukuk ever from an Omani lender, and will issue more than one deal next year, an official at the bank told IFIS.
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Low cost Malaysia airline AirAsia is setting up a mudaraba sukuk programme and plans to launch a subordinated perpetual deal.
