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 Arabia’s Southern Province Cement Co has signed a SR700m ($185.7m) Islamic financing with National Commercial Bank.
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Emaar Properties, the Dubai-based property developer, is set to raise up to Dh9bn ($2.45bn) through listing its shopping centre and retail subsidiary, a deal that will see the secondary offering of up to 25% of the company’s equity.
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Gulf Finance House will seek approval from its shareholders this month to issue $500m of convertible sukuk or other facilities.
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Pakistan’s central bank has blocked Noor Financial Investment from selling its majority stake in Meezan to Hong Kong’s Vision Financial.
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The race to be the first European country to issue a sovereign sukuk has taken a twist, with Luxembourg’s Council of State rejecting a first version of the Grand Duchy’s draft bill. Its government and parliament are expected to propose a number of amendments to the sukuk law over the coming weeks, said a Council of State official – a process that may set back plans for a debut €200m deal.
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Dubai’s recent rollover of $10bn in debt extended to it by the United Arab Emirates’ central bank was widely hailed at the time as a positive by market participants. But the lack of forthcoming detail since on the new terms and tenors of the arrangement has prompted concern for some investors.