Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Trade was the largest so far from the Dubai property developer
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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Pakistani commercial bank MCB plans to buy a majority stake in smaller Islamic peer Burj Bank, as it looks to build its Islamic banking subsidiary. The plan echoes Pakistan's bigger push towards Islamic banking, with a growing number of conventional banks looking to enter the market. -
Prospective international sukuk debutante Morocco is pushing ahead with plans to introduce Islamic banking for the first time, with parliament set to take a vote on the government’s draft bill as early as April.
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The international sukuk drought is over — and how. Dubai Investments Park and the Export Import Bank of Malaysia secured tightly priced debuts this week amid a deluge of demand that spoke volumes about investors’ need for more Islamic issuance and a greater diversity of borrowers.
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Dubai Investments Park gave initial price thoughts of low 300bp over mid-swaps on its $300m five year debut sukuk on Wednesday, but investors are expecting much tighter pricing. Leads tightened guidance to 300bp area and the note was already trading up in the grey market around half a point.
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SapuraKencana Petroleum has redeemed early and cancelled its MR700m ($210.6m) sukuk programme. The Malaysian oil and gas company ended the facility as it closes in on a raft of loan tranches worth $5.8bn, for which it has received commitments from around 12 banks.
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The Central Bank of Bahrain will pay an 1.1% expected return on its latest BD20m ($53.2m) of short term sukuk al ijara – in slightly from last month’s 1.25%.
