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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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Al Khaleej Takaful Insurance & Reinsurance Co has reported a Qr78.2m ($21.48m) profit for 2012 – up from Qr63.4m the year before. The company’s earnings per share rose from Qr4.46 to Qr5.50.
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Ahlibank is planning to launch the Sultanate's first Islamic fund for the Middle East and North Africa (Mena) region. The bank is waiting for regulatory approvals from both Central Bank of Oman and the Capital Market Authority, CEO Abdulaziz al Balushi told the Times of Oman in an interview.
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Dana Gas has called an extraordinary general assembly meeting next month to agree the restructuring of its defaulted October 2012 sukuk. The Sharjah based company will hold the meeting on March 14 at the emirate's Chamber of Commerce & Industry. On December 10, Dana's board reached a provisional agreement with sukukholders that Dana will issue $425m of ordinary new sukuk as well as $425m of convertible sukuk, paying 9% and 7% respectively.
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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.