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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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Dana Gas has received $48m of overdue liquid fuel payments from Kurdistan. Difficulties in obtaining money the Sharjah based company is owed for its operations in Kurdistan and Egypt were a key contributing factor to Dana's default on its outstanding $920m sukuk that matured at the end of October.
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Malaysian sovereign wealth fund Khazanah Nasional's property development arm UEM Land Holdings plans to issue up to MR2bn ($658m) of debut sukuk to raise working capital, pay down debt and buy back it convertible preference shares.
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Saudi Arabian engineering firm Abdullah AM Al-Khodari Sons Co signed a Sr500m ($133m) Islamic financing facility on Tuesday. This is the firm's third Shariah-compliant deal in three weeks.
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Karachi, December 4, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has maintained the Management Quality rating of National Asset Management Company Limited (NAMCO) at 'AM3-' (AM Three Minus).
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Brokerage Al Ramz Securities has launched the UAE's first-ever Islamic margin trading service. This is styled on murabaha financing structure, with Al Ramz buying Shariah-compliant shares agreed by its clients and then selling these onto them.
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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.