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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The Egyptian Financial Supervisory Authority has drafted a law for corporate sukuk issuance in the country. The draft bill covers the different structures that are permissible and the business lines that may be funded by sukuk. The bill also requires the approval of three Shariah scholars on any sukuk before it can be issued.
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Saudia Arabian industrial company The Savola Group held an extraordinary general meeting on Wednesday and agreed to give its board authority to issue sukuk, bonds and other debt. This could come through one or more tranches or as a series of issues from programmes.
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Turkey's Bank Asya will make a second attempt at issuing a debut dollar-denominated sukuk of up to $300m in the first quarter of 2013. It is also looking to bring up to TL150m ($57m) of lira denominated paper.
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Karachi, December 7, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned medium to long term entity rating of ‘A’ (Single A) and short term rating of ‘A-2’ (A-Two) to Century Paper & Board Mills Limited (Century). JCR-VIS has reaffirmed the rating of ‘A+’ (Single A Plus) assigned to the Sukuk issued by Century. Outlook on the rating is ‘Stable’.
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Karachi, December 7, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the IFS rating of Pak Qatar Family Takaful Limited (PQFTL) from 'A-' (Single A Minus) to 'A' (Single A). Outlook on the rating is 'Stable'.
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Karachi, December 07, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has withdrawn the Insurer Financial Strength ( IFS ) rating of 'BB+' (Double B Plus) assigned to Capital Insurance Company Limited, with immediate effect, on account of non-renewal of the rating contract.