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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Luxembourg’s debut in the sukuk market last week was a great advert for the asset class and rounded off a run of ground-breaking deals from new borrowers. But despite bankers reporting interest from other European sovereigns in the aftermath – and suggestions the Grand Duchy itself will return next year – it is unlikely that its western neighbours will follow soon.
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Any lull in the international sukuk market after September’s record monthly issuance is set to be brief, say bankers, with the Republic of Turkey looking likely to be at the front of the next flurry of deals.
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National Bank of Abu Dhabi will underscore its commitment to its wholesale banking business by splitting the UK part of its operations from its private banking arm and moving as many as 100 staff to Canary Wharf. -
The biggest month ever for international sukuk issuance has drastically rearranged the bookrunner league table as the market enters the final quarter of 2014. The barrage of benchmark deals has put a podium finish within reach for National Bank of Abu Dhabi, pulled CIMB up four places and sent Deutsche Bank down by the same number.
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Luxembourg never intended its debut sukuk to be a one-off sale, and its commitment to Islamic finance means it would make sense for the sovereign to return to market, a source at the Luxembourg ministry of finance told IFIS. But the transaction has also prompted other issuers across Europe to question what the potential benefits of sukuk could be, said bankers on the deal.
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General Electric will not issue a new sukuk when its outstanding debut deal matures in November, according to bankers familiar with the issuer’s plans.
