Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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The Gulf kingdom is trying to tackle a very wide deficit and sky-high debt to GDP
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
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Turkey has given initial price thoughts of 325bp over mid-swaps area for its return to the international sukuk market. -
Islamic banks in the GCC are likely to grow faster than their conventional counterparts and increase their share of regional banking assets, said Standard & Poor's on Tuesday. But profitability rates for the two banking models are converging as Islamic banks are taking more of a hit from lower interest rates and non-core banking revenues than their conventional peers, the rating agency added.
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Abu Dhabi bank Al Hilal drew a $6.3bn book as it priced a $500m five year debut sukuk at 170bp over mid-swaps, inside the 190bp guidance it gave on Monday.
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Almarai has sold SR1.7bn ($453m) of perpetual tier one sukuk – the first deal of its kind from a Gulf corporate borrower.
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Saudi Arabian Jouf Cement Company has signed a Sr400m ($106.7m) Islamic finance facility.
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Qatar Electricity and Water Co (QEWC) has signed conventional and Islamic finance facilities totalling $450m.
