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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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Karachi, October 16, 2012: JCR-VIS Credit Rating Company Limited has assigned preliminary rating of ‘A’ (Single A) to the proposed privately placed Term Finance Certificate (PPTFC) issue of Aisha Steel Mills Limited (ASML). Outlook on the assigned rating is ‘Stable’.
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Manama, Bahrain –16th October 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been fully subscribed by 263%.
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Mobile telecommunications company Zain Saudi said that it is in "well-advanced' discussions over a new loan to replace the Sr9bn ($2.4bn) still outstanding under its existing Sr9.75bn Murabaha facility, which has already been extended three times and is now due to mature on November 28.
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Masraf Al Rayan has reported a net profit of QR1.08bn for the first three quarters of 2012 – up 7% on the same period last year. The bank also saw its total assets grow by almost 26%, from QR48.9bn to Qr61.4bn.
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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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Banque Saudi Fransi has obtained approval from the Saudi central bank to issue up to SR2.5bn ($667m) of sukuk. The Riyadh based bank, which is part owned by Credit Agricole, will look for a maximum maturity of five years and put proceeds of the sale towards capital and lending.