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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Dubai Electricity & Water Authority has mandated banks as it looks to issue up to $1bn of sukuk this month. The state owned utility company has asked Abu Dhabi Islamic Bank , Citi, Dubai Islamic Bank , Emirates NBD , Royal Bank of Scotland and Standard Chartered to arrange the sale.
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The Republic of Indonesia has raised Rp1.05tn ($108.5m) through sukuk at an auction on Tuesday, missing its Rp1.5tn target.
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Bank of London and the Middle East (BLME) has provided £9m of financing to TeamSport for its management buy-out of go kart tracks operator TeamSport Racing.
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Qatar International Islamic Bank wants to set up a $2bn sukuk programme and has asked its general assembly to approve the plans. The recommendation comes ahead of QIIB's annual general meeting, which will is due to be held on March 10 in Doha.
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Saudi Arabia's Dar Al Arkan is likely to issue a new sukuk over the next 12 moths and pay its first cash dividend in almost three years, according to frontier markets investment boutique Exotix. Exotix research official Gus Chehayeb expects Dar to repeat its own historical trend this year. He said that shareholders are overdue a dividend and credit market conditions are very favourable.
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Dubai Investments will this week pick banks as it looks to issue a Dh1bn ($272m) sukuk. In an interview with local newspaper Arabian Business, the company's CEO, Khalid Bin Kalban said that proceeds will be used to pay off debt on manufacturing units and finance as many as six new acquisitions.