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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Saudi Electricity Co has picked banks and lined up roadshows this week as it looks to return to the dollar sukuk market. The company is planning a long dated 144A tranche of at least 15 years as part of the offering, which would make it the first sukuk borrower to look beyond five years since the emerging markets sell-off in May last year. -
The Central Bank of Bahrain has issued BD36m ($93.7m) of three month al salam sukuk, with the sale oversubscribed by 311%.
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Bank Rakyat has sold MR1bn ($302.1bn) of three- and five-year subordinated sukuk in a bid to raise capital and diversify funding sources.
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Luxembourg's debut sukuk plans lost their figurehead this week, with project spokesperson Marc Hansen having been appointed instead to secretary of state for national education for children and youth in higher education and research.
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Petronas Dagangan, the Malaysian domestic marketing subsidiary of Petronas Nasional, has issued its first MR300m ($90.7m) sukuk from a MR2bn programme.
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Gulf bank sukuk is coming back on the radar for international investors for the first time since October, but not from regular sources. Oman’s Bank Muscat will begin speaking to regional banks next week about a debut, and Bahrain’s Gulf Finance House will ask shareholders to approve its first new deal since the financial crisis.
