Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
Investors are still showing big demand for the Dubai real estate firm's sukuk despite two sell-offs in a 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. -
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.
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Advanced Petrochemical Co starts investor meetings on Sunday ahead of its first sukuk, and has mandated HSBC Saudi Arabia and Riyad Capital to manage the transaction. But the deal is unlikely to be large enough to help bolster Saudi sukuk supply, which has dropped off sharply after strong issuance in the previous two years.
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Turkish consumer products company Yasar Holdings is embarking on a roadshow with Barclays and Citi. Investor meetings for the deal start in London on Friday and take place in the US on Monday, Tuesday and Wednesday.
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An Indonesia insurance law taking effect this week will provide valuable clarity and guidelines on Islamic insurance. But the country’s takaful sector – although holding huge untapped potential — is still hampered by an underdeveloped Islamic finance industry and the difficulty of convincing a moderate Muslim population to leave the conventional insurance sector, Fitch analysts told IFIS.
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Islamic finance risks falling behind the conventional capital markets in its support of social development and the real economy including SME financing.
