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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September’s international sukuk deals broke the collective record for international issuance in a single month, but have met with a mixed reception in the secondary market. Most of the bonds are at or above par. But a few have sunk in the secondary market and remain well back of the respective issuer’s conventional curve. -
Burgan Bank priced its debut additional tier one (AT1) bond in what bankers on the deal said were challenging conditions on Tuesday. While the point of non-viability (PONV) premium is up for debate, bankers away from the deal said that the deal looked to have been priced fairly.
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Albaraka Turk’s latest one year murabaha facility was two and half times subscribed with 17 banks involved, an official at the issuer told IFIS. The deal is likely the last of this year’s round of Turkish participation bank refinancing. But despite ample appetite for Turkish risk elevated loan costs are unlikely to drop next year, when refinancing will coincide with a general election, the official said.
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Kuwait's Burgan Bank has announced final guidance for its debut additional tier one (AT1) bond. Bankers on the deal say it will be priced later this afternoon.
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Islamic Bank of Britain (IBB) has appointed Keith Leach as chief commercial officer as part of its efforts to grow its corporate and real estate business.
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Albaraka Turk was poised to close a $150m one year syndicated murabaha facility on Monday afternoon, having received more than the demand necessary for the dual-tranche loan.
