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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The Islamic Corporation for the Development of the Private Sector (ICD) has signed an agreement with the Japan International Cooperation Agency (JICA) to support Islamic money markets and international capital markets in their countries of common interest.
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The Republic of Tunisia looks set to join the growing number of sovereign borrowers to issue a debut sukuk in 2014, having requested proposals from banks for a five year deal before the end of the year.
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Bank Islam Malaysia is set to launch a MR1bn Basel III compliant sukuk programme, following a trend among Malaysian banks this year.
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Goldman Sachs’ sukuk has provided a useful lesson for other conventional borrowers looking at the asset class. Opinions are divided on the merits of non-Islamic borrowers testing the market, but bankers both close to and away from the deal agree that a wider distribution would be better for future debuts.
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Escalating tensions in Turkey overnight led to a softening in bond prices on Wednesday, adding to a month long sell-off in the country. But bankers aren't expecting primary supply to be affected, with financial issuers likely to be opportunistic.
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Recent Middle East financial bond issues have had mixed fortunes in the secondary market, but Goldman Sachs’s debut sukuk has notably underperformed since its mid-September pricing – with some investors and bankers away from the deal suggesting that this resulted both from exaggerated orders and from a persistent uneasiness the market has with borrowers it considers un-Islamic”.