Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
More articles/Ad
More articles/Ad
More articles
-
Hong Kong put its distinctive stamp on the burgeoning international sukuk market this week, as the first non-Islamic Asian sovereign to tap the asset class. That novelty proved no obstacle, though, with the $1bn five year deal meeting an enthusiastic response and adding momentum to the city’s aspiration of becoming a regional Islamic financing hub, write Isabella Zhong and Rev Hui.
-
The Kingdom of Bahrain set a benchmark for its borrowers to follow when it issued the country’s first 30 year bond this week. Movements in the underlying US Treasury market sidelined some emerging market accounts but a final book of almost $6bn ensured a minimal new issue premium for a bond providing an important reference point for Bahraini project finance.
-
The Emirate of Sharjah sold a $750m inaugural sukuk off a $7.8bn order book on Wednesday. The borrower brought in a host of conventional accounts in addition to a strong local bid, and watched its bond tighten 6bp in the secondary market despite pricing some 20bp-45bp inside the curves of regional comparables, according to debt bankers on the deal. -
The Government of the Hong Kong SAR opened books on its inaugural sukuk on Wednesday and priced the bond on the same day. It's $1bn five year deal was four times subscribed halfway through execution, and represents a crucial step in government's efforts to establish its Islamic finance credentials.
-
The Kingdom of Bahrain will price its 30 year transaction at a yield of 6% on September 10. The offering is the first dollar bond from the country this year.
-
Sharjah-based natural gas company Dana Gas has secured a $100m term loan, including a Shariah compliant tranche, for the Zora Field development project.
