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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Corporate sukuk added flavour to the Islamic feast this week, as Emirates, the UAE-based airline, priced a $1bn 10 year amortising sukuk. The deal was issued at 300bp over mid-swaps and received a three times covered order book.
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Oman plans to issue as much as OR200m ($520m) of conventional bonds and sukuk. The move would see the first sovereign sukuk issue for the sultanate, which over the past year has pushed ahead rapidly to develop an Islamic finance industry.
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Dubai Islamic Bank priced its $1bn dollar denominated benchmark perpetual tier one sukuk on Wednesday well inside initial guidance, having generated a diverse $14bn order book. DIB was able to cut guidance for the deal from an initial 7% area to a much tighter final 6.25%. Leads received 360 orders for the paper and were able to achieve a balanced allocation, both by geography and investor type.
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Dubai Islamic Bank has priced a $1bn dollar denominated benchmark perpetual tier one sukuk into overwhelming investor demand.
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Bank of London and the Middle East has agreed to provide a £20m three year finance facility for a mixed residential and commercial development in London. This brings BLME’s total financing of the UK mid-market sector over the past 12 months to $240m.
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Egypt’s Shura Council has approved the country’s sukuk draft law. The council modified 13 articles and added new ones, according to local newspapers that cite a committee report. The law combines the Shura Council’s proposal and those of the government and the economic and financial committee.