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Most recent/Bond comments/Ad
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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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Saudi real estate firm Dar Al Arkan built a book of $1bn for its $400m five year sukuk late on Wednesday evening. The deal was printed with a yield of 6.75%, in line with guidance. -
Saudi Telecom Co is set to enter the sukuk market, after setting up a Saudi riyal denominated sukuk programme of up to SR5bn ($1.3bn).
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Hong Leong Islamic Bank, the Islamic subsidiary of Malaysia’s Hong Leong Bank has set up a Basel III-compliant sukuk programme of up to MR1bn ($311m).
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Dar Al Arkan has built an order book of $700m for its sukuk of up to $450m, offering a 13bp-25bp new issue premium according to a lead manager and an investor. Price guidance has been released at 6.75% area for the five year deal.
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The future growth of Islamic finance is under threat if better education standards are not implemented, say practitioners, with a recent survey pointing to a critical skills gap in the industry.
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Dar Al Arkan plans to raise up to $450m in a five year dollar denominated sukuk, with initial price thoughts at "high 6%", as the Saudi Arabian real estate firm looks set to make its return to the international Islamic bond market.
