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Near $1bn attrition from an order book on Tuesday shows buyers have limits
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
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Goldman Sachs is preparing a debut sukuk deal that could pave the way for other western banks to use Islamic finance to tap into a huge pool of Middle East liquidity. But much will depend on the pricing and whether Islamic investors accept the deal, which comes almost three years after controversy around Shariah compliance brought down the US firm’s first attempt at an inaugural sukuk. -
Malaysian banks are working with Swift (Society for Worldwide Interbank Financial Telecommunication) to design new standards on Islamic finance messaging.
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It was second time lucky for Khazanah Nasional this week, as the Malaysian sovereign wealth fund managed to complete a $500m exchangeable sukuk on Wednesday after pulling the same transaction just three months ago. Moving away from a very aggressive stance to slightly more investor-friendly terms helped get the transaction across the line, but it was an uphill battle all the way, writes Rashmi Kumar.
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The International Finance Facility for Immunisation (IFFIm) is in the middle of a non-deal roadshow to examine the possibility of issuing a sukuk to fund immunisation and vaccine procurement programs.
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The Bahrain Bourse has appointed Sheikh Osama Mohammed Bahar as a Shariah advisor on a range of Islamic products and services the exchange intends to launch.
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Indonesia proved it had come of age as a sukuk issuer this week. The issuer built its largest orderbook ever for an Islamic deal and beat its yield target as a result. But more important was the tenor. The sovereign enticed a host of accounts — new and old — into what was its largest and longest dated sukuk yet.
