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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Turkish Airlines hopes to raise $500m for new plane orders in 2014 and is weighing up its financing options. The company is in talks with banks about a leasing arrangement using enhanced equipment trust certificates (EETCs), but could potentially follow this up with issuance of sukuk or eurobonds next year.
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Karachi, November 26, 2012: JCR-VIS Credit Rating Company Ltd. has upgraded the medium to long term entity rating of Taurus Securities Limited (TSL) from ‘A-’ (Single A Minus) to ‘A’ (Single A). Short-term rating of TSL is ‘A-2’ (A-Two). Outlook on the rating is ‘Stable’.
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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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Saudi engineering firm Abdullah AM Al-Khodari Sons Co has signed a SR736m ($196m) Islamic financing facility, the borrower's second Shariah compliant deal in a fortnight.
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Saudi Hollandi Bank has privately issued a SR1.4bn ($373.3m) subordinated sukuk at 1.15% over the six month Saudi interbank offered rate. The bank said it will use proceeds to improve its tier two capital ratio.
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The Dubai office of international law firm Norton Rose has advised a syndicate of fourteen banks in relation to a senior unsecured US$900 million syndicated facility for First Gulf Bank PJSC (FGB). The facility is the largest loan market transaction undertaken by a financial institution in the UAE this year and is to be used by FGB for its general corporate purposes, including the expansion of its existing operations as well as its growing global footprint.