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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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Dubai mortgage lender Amlak Finance has begun talks with creditors to restructure as much as $2bn worth of debt. Five banks will act as a committee on behalf of the creditors, while PricewaterhouseCoopers will advise Amlak.
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Kuwait financial services firm Gulf Investment House has signed a murabaha agreement with Kuwait Finance House to restructure KD43.5m ($155m) of debt.
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Saudi Arabia's National Commercial Bank achieved a SR6.45bn ($1.72bn) profit in 2012, up 7.3% on the SR6.01bn it earned in 2011. Fee income from banking services rose 21% and foreign exchange income increased by 15.4%, while gains on sale of investments during the year came to SR602m, from SR325m in 2011. The bank's net special commission income during the year increased by 4.8% to SR8.99bn.
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Plantation conglomerate Sime Darby has received the Security Commission Malaysia's approval to establish what will be the first internationally rated multi-currency ijara sukuk programme by an Asian company. Worth $1.5bn the programme will enable Sime to raise funds using various tenors and currencies to match its requirements.
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Qatar Islamic Bank is launching a new programme to provide financial services to small and medium sized enterprises in the state.
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JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.