Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
Bond pricing for the mining company started about 43bp back of its parent
Sovereign wealth fund takes $2bn, as aimed at
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Majid Al Futtaim’s $500m bond held its ground in the secondary market on Wednesday morning, after the Dubai shopping mall operator priced the 10 year note well inside guidance on Tuesday afternoon.
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Taqa used the strategy of a capped size and fair starting point for price talk to print its $750m 10 year bond 10bp inside its outstanding curve on Tuesday, according to a lead manager. It built a $4.55bn book in the process, reports GlobalCapital.
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Meezan Bank’s takeover of HSBC’s Pakistan business has moved a step closer, with scholars approving initial guidelines to convert the unit to Shariah compliant.
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Emirates NBD on Wednesday became the third Middle Eastern issuer this year to take to the Kangaroo market, selling a five year bond. Despite a weaker rating than other Emirati banks seen in market, the deal found favour with Asian accounts as a result of an attractive spread, reports GlobalCapital.
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Etisalat, the Abu Dhabi telecoms firm, has signed €3.15bn-equivalent of loans from banks to finance its purchase of Vivendi's 53% stake in Maroc Telecom, reports GlobalCapital.
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Dubai shopping mall operator Majid Al Futtaim has listed a $1bn sukuk programme on the Irish Stock Exchange through its MAF Sukuk Ltd special purpose vehicle, opening up the possibility of a return to the Islamic bond market.