Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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Risk management edged out a lack of standardised rules for shariah compliance as the biggest challenge facing Islamic banking businesses in a survey conducted by software and IT provider SunGard Financial Systems. -
Singaporean real estate invest trust Sabana Reit sold a S$100m ($78m) sukuk al-wakala bel-istithmar on Wednesday. Investors required no concession for the sukuk structure relative to a conventional deal, and any borrowers willing to step into the sukuk market in Singapore dollars or renminbi would be unlikely to pay a premium, said a banker on the deal.
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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.
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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.
