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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UAE based low cost airline Flydubai is working with a group of banks on a sukuk deal, and several other airlines are considering sukuk sales with Export Credit Agency (ECA) backing, a senior debt banker told IFIS. But structuring ECA-backed sukuk involves extra layers of complexity that could exclude all but the most determined borrower.
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Qatar’s Ahli Bank has closed a $200m debut syndicated term loan facility, increasing the size of the deal after its initial amount was oversubscribed.
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The National Bank of Oman launched its debut offering on Tuesday morning. Market conditions have been less than ideal for the issuer, which opened books in a risk averse market.
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The Grand Duchy of Luxembourg paid a clear premium over its conventional curve to get a €200m inaugural sukuk away on Tuesday. But this concession was down to the small size and not the sukuk structure, said debt bankers on the bond. A much bigger problem with the debut deal was Islamic investors’ lack of familiarity with just how measly euro rates have become. -
Luxembourg is expected to price its inaugural Islamic bond through mid-swaps on Tuesday, having started execution around 10bp back of its conventional curve, said debt bankers away from the deal.
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Bank of Tokyo-Mitsubishi UFJ Malaysia paid a liquidity premium for its recent yen sukuk — the first Islamic bond ever in the currency — but found decent appetite despite yen investors’ lack of familiarity with sukuk products, the bank’s chief executive told IFIS.
