Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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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.
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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’.