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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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Turkish Islamic lender Albaraka Turk Katilim Bankasi signed its $450m - equialent one year murabaha financing late on Tuesday.
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Global demand for sukuk is set to grow threefold from $300bn to $900bn by 2017, according to estimates by Ernst & Young.
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International Bank of Azerbaijan has agreed a $20m commodity murabaha agreement with the Islamic Corporation for Development of Private Sector ( ICD ) – the first transaction in support of IBA's newly opened Islamic banking window.
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Al Izz Islamic Bank, under formation as Oman's second dedicated Islamic bank, is set to launch an initial public offer of 40% of its shares. From September 22 and for the following month, Al Izz will offer 400,000,000 shares at 102 baisa (26.5 cents) each, with 100 baisa nominal value and two baisa premium. The bank hopes to raise OR40m ($104m) from the sale.
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Turkish Islamic bank Albaraka Turk Katilim Bankasi will sign its one year murabaha facility at $450m- equivalent, after demand from Middle East lenders new to the credit saw the deal oversubscribed by 80%. Syndication has closed and the deal is set to sign imminently.
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Malaysian mobile phone company Axiata Group priced a debut dim sum sukuk on Tuesday at the tight end of guidance.