Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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
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Vakifbank priced the first ever euro-denominated bond from a Turkish bank on Tuesday to an undisputed good reception, reports GlobalCapital. But bankers on and off the deal debated whether the print was inside the bank’s dollar curve.
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Abu Dhabi Islamic Bank has hired veteran specialist Sagheer Mufti as its global head of operations and technology.
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Emaar Malls can easily price its benchmark sukuk inside existing Emaar Properties paper, said a banker close to the deal and United Arab Emirates investor, although it is thought the firm will issue a 10 year tranche. -
Emaar Malls Group tightened guidance on its 10 year benchmark sukuk to 190bp area over mid-swaps on Tuesday afternoon in London, following strong demand for the paper.
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Saudi Telecom Co has placed SR2bn ($533.2m) of 10 year sukuk privately, taking deals from the kingdom this year to over $8bn worth – with more lining up.
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A resurgent Asian equity-linked primary market took a slap in the face last week after Khazanah Nasional pulled an exchangeable sukuk worth as much as $750m after it failed to achieve the pricing it wanted despite plenty of demand. While Khazanah is unlikely to be damaged by the incident, it needs recognise that its actions have consequences for the rest of the market.
