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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International Bank of Azerbaijan (IBA), the largest bank in Azerbaijan, has completed a series of investor meetings for its new $100m murabaha syndicated facility.
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This week saw a big surge of MENA bond and sukuk activity, with four dollar deals coming to market and two other issuers lining up roadshows. The wave breaks the recent regional lull and points to a further flurry in the coming weeks as borrowers try to seize a window before the Middle East summer kicks in. -
Dar Al Arkan’s $450m 5.75% five year sukuk bucked the recent trend by performing well in the secondary market after pricing on Tuesday. The paper traded up to 100.75 bid on Wednesday, having been priced at 99.47. And despite the general market sell-off on Thursday, the notes were still quoted at 100.25 by the close.
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Egyptian marine and offshore oil services company Maridive and Oil Services has signed a $150m loan in Egypt’s first ijara Islamic financing.
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The Islamic Bank of Britain has lowered its rates for Shariah compliant home purchase plans.
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The Islamic Development Bank will target $1bn with a planned sale of five year sukuk – its largest bond deal yet.
