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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Kuala Lumpur-based oil and gas company Kencana Petroleum has come to market with its first sukuk issue since it completed its merger with SapuraCrest Petroleum. The MR200m ($63.84m) five-year deal is also the company's second ever Islamic tranche and completes the MR700m programme it launched in August last year at the time the companies' boards agreed to merge.
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Qatar Islamic Bank has plans to establish a $1.5bn sukuk programme and will seek quorum consent for the proposal at its general assembly in Doha on September 16. A first issue under the programme could follow, subsequent to approval from relevant authorities in Qatar.
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Karachi, August 28, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long-term entity rating of Jamshoro Joint Venture Limited (JJVL) at 'A+' (Single A Plus) and short-term entity rating at 'A-1' (A-One). Outlook on the medium to long-term rating is 'Stable'.
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Singapore based Sabana Reit, the manager of Sabana Shariah Compliant Reit, has recently signed a S$258.6m ($206.4m) financing with HSBC. The agreement comprises three-year and five-year commodity murabaha facilities of up to S$177.6m and S$75m, as well as adding S$6m on Sabana's existing revolving facility.
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Turkish real estate investment trust Is Gayrimenkul Yatirim Ortakligi (Is Reit) has signed a $50m two year murabaha financing from a syndicate of Gulf Co-operation Council banks.
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Karachi, August 27, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Al-Noor Sugar Mills Limited (ASML) at 'A - /A-2' (Single A Minus/A-Two). Outlook on the outstanding ratings is 'Stable'.