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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Dubai property developer Nakheel may look to refinance its sukuk borrowings this year, the firm said on Wednesday as it reported growing 2012 profits, but one analyst slapped a "sell rating" on the sukuk and said that investors are incorrectly pricing default risk.
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JP Morgan plans to make a bigger push in Islamic finance - including sukuk arranging - and has appointed Hussein Hassan to a newly created role as global head of its Islamic finance practice.
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The Dubai government made a momentous return to the sukuk market on Tuesday, achieving a $11bn order book for its aggressively priced $750m 10 year deal, and then opting to add a $500m 30 year conventional tranche — its first ever issuance at that tenor.
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Malaysian conglomerate Sime Darby drew almost $9bn in orders for its dual-tranche dollar sukuk on Wednesday, smashing records with a low coupon on its five year bond — and becoming the first privately-owned company to push sukuk maturities out to 10 years.
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Dubai property developer Nakheel may look to refinance its sukuk borrowings this year, the said firm said on Wednesday as it reported a Dh2.02bn profit ($549.15m) profit for 2012. This was up 57% on 2011, while revenues in 2012 were up 91% to Dh7.8bn, from Dh4.1bn in 2011.
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Karachi, January 22, 2013: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Insurer Financial Strength ( IFS ) rating of Askari General Insurance Company Limited (AGICO) at 'A' (Single A). Outlook on the assigned rating is 'Stable'.