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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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Richad Soundardjee became Societe Generale’s chief region officer for the Middle East and chief executive officer of its Dubai office in October, having previously headed global capital markets for the CEEMEA region at the bank. He spoke with IFIS about SocGen’s plans for its Islamic finance business with a particular focus on structured finance – and how those two areas of business will play a part in the region’s development. -
A fat pipeline of sukuk and bonds before the end of the month should add to what is already one of the busiest quarters on record for Middle East dollar deals. With Ramadan and the summer slowdown approaching, this extra surge is a big test of market depth – particularly for sukuk – but it is one that that the market should pass comfortably.
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Saudi Arabian fashion retailer AlHokair signed a SR1bn ($267m) Shariah-compliant financing facility with Gulf banks on Thursday and is preparing to price a debut sukuk next week.
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Saudi Investment Bank has issued SR2bn ($533.23m) of sukuk for the first time, as the Kingdom’s banks aim to strengthen their capital bases to comply with Basel III regulations.
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Hong Leong Islamic Bank has issued MR400m ($124.5m) of 10 year sukuk as a first tranche of its MR1bn Basel III-compliant programme. The deal comes as Public Islamic Bank is readying a MR500m first tranche of its MR5bn sukuk programme.
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Turkish participation banks Albaraka Turk and Kuveyt Turk have both received permission from the country’s Capital Markets Board to issue up to $500m of sukuk to foreign investors.
