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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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. -
Morocco’s parliament has delayed a vote on its draft Islamic banking bill but will hope to reach a decision by next week, said Mohamed Al Ghazwani, advisor to the standing parliamentary committees for finance and economic development.
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Having been labelled ‘toppy’ in some quarters last week after a quick-fire 15 year sovereign sukuk, there is no sign of a retreat this week from Dubai or its neighbour Abu Dhabi. Investors have set aside nerves once again and scampered to fill their shopping carts with Majid Al Futtaim and Taqa 10 year bonds. Then again, there are plenty of reasons to brush off toppiness for now and say Dubai ain’t all bad.
