Most recent/Bond comments/Ad
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Trade was the largest so far from the Dubai property developer
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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Dana Gas is seeking a "consensual solution" on a $1bn convertible sukuk ahead of its looming maturity on October 31. The 7.5% notes, which were issued pre-financial crisis in 2007, have fallen sharply since the start of this year, to around 70 cents, amid a lack of clarity over how Dana intends to meet the repayment.
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SME Bank has sold MR500m ($160.23m) of sukuk in two MR250m tranches, with the deal almost six times oversubscribed. SME intends to deploy the money in supporting the government's agenda to boost small and medium enterprises. The seven-year tranche carried a profit rate of 3.60% and the 10-year 3.69% - or 28bp over Malaysian government bonds.
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Saudi Arabia's National Commercial Bank ( NCB ) has agreed what is thought to be the world's first Islamic structured international airport financing for the Prince Mohammed Bin Abdul Aziz International Airport in Medina. The airport will cost an estimated SR4.5bn ($1.2bn) to build, a large part of which NCB will provide through senior participation and an equity bridge loan.
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Kuwaiti investment firm National Industries Group has scrapped plans to obtain a four year extension on a $475m sukuk and will now repay the notes when they mature on Thursday this week. NIG had previously asked investors to restructure the deal – an arrangement that could have realised a return of 22.9%.