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The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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The Central Bank of Bahrain has raised BD18m ($47.7m) through its monthly issue of sukuk al-salam. The notes, which carry a 91 day maturity beginning March 27, were oversubscribed by 246%.
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Insurance company focused rating agency AM Best has assigned Bahrain based Takaful International Company a B++ financial strength and “bbb” issuer credit rating, both with stable outlook.
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Qatar based Barwa Bank has reported a QR345m net income for 2012, up 41% on the QR244m it earned in 2011. The bank’s total assets increased by 32%, from QR21.5bn to QR25.3bn. Barwa also saw a 66% growth in its financing portfolio from QR9.2bn to QR15.3bn, with customer deposits rising from QR10.1bn to QR14.8bn during 2012.
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Saudi Electricity Company's issuance of the world's first ever 30 year international sukuk is a legitimate cause for excitement. It has given Islamic market borrowers a glimpse of the open vistas of a new landscape. But they can't expect to jump straight in. This deal follows an immense effort — and comes from a name with unique attractions.
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Saudi Electricity Co has issued a $2bn dual tranche 10 year and 30 year sukuk, having priced the notes at the tight end of their already sharpened guidance. The deal is the first international sukuk to have a 30 year tenor.
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The ( SC ) today charged Lee Koon Huat, a former advisor of Axis Incorporation Berhad (Axis) for abetting Axis in furnishing false statements to Bursa Malaysia Securities Berhad in 2006 and 2007.