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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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Development Bank of Kazakhstan turned to the Islamic bond market for the first time this week, raising MR240m ($76m) in a deal that could lay a path for more issuers from Kazakhstan to raise funds from Malaysia's growing market.
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Kuala Lumpur headquartered Axiata Group recently received approval from Malaysia's Securities Commission to establish a sukuk programme worth $1.5bn (MR4.8bn). Notes will be issued out of special purpose vehicle Axiata SPV2 and listed on Bursa Malaysia and the Singapore Exchange.
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Manama, Bahrain – 23 July 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD 18 million issue, which carries a maturity of 91 days, has been oversubscribed by 188%.
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Kuwaiti investment firm National Industries Group has asked creditors to extend its looming $475m sukuk maturity by four years. The five-year deal, issued in August 2007 at a floating rate of 105bp over Libor, is due to mature on August 16.
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Manama, Bahrain: Arab Banking Corporation today announced that its consolidated Group net profit for the first half of 2012 was US$105 million. Net profit for the second quarter was US$51 million compared to US$54 million in the first quarter of 2012. Total operating income amounted to US$193 million, below US$214 million in the first quarter, mainly due to lower interest rates and exchange rate changes in Brazil even as income from lending activities increased on the back of higher volumes whilst trade finance activities continued to remain high. Total operating expenses were US$103 million compared to US$99 million and net impairment provisions were US$13 million against US$15 million in the previous quarter.
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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.