Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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The Middle East’s burgeoning pipeline of pre-Ramadan bonds and sukuk saw Etisalat and Emaar Malls achieve dazzling debuts this week, while Al Hilal Bank has lined up to issue what will be the UAE’s first tier one sukuk since Dubai Islamic Bank came to market last year.
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With rumours rife that two Russian borrowers are about to break the country’s silence and launch new bonds, the EM bond market is awash with Turkish borrowers looking to rush through deals while they have a clear run.
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Al Hilal looks set to become the first bank in the United Arab Emirates to issue a tier one perpetual sukuk since Dubai Islamic Bank brought $1bn in March last year. This would also provide the first test of demand since Abu Dhabi Commercial Bank’s tier two last year drew attention to a shortfall in the central bank’s provisions for such instruments.
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Emaar Malls Group’s tightly $750m 4.564% 10 year sukuk has performed well in its first day of secondary trading, despite having been priced at the tight end of guidance that had already been refined lower twice.
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Africa's rising fortunes have brought improving growth and saw a near doubling of sovereign bond issuance out of the continent last year to $11bn. Sukuk is much less developed but shows promise as countries' interest in Islamic finance develops and funding diversifies
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Turkish participation bank Albaraka Turk has removed BNP Paribas from its previously indicated arrangers, having mandated banks for a Reg S dollar sukuk roadshow beginning this week.