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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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Malaysian business conglomerate Johor Corp Group (JCorp) is set to issue MR3bn ($980.55m) worth of sukuk wakalah in May to help finance MR3.2bn of 10-year bonds which mature on July 31. Jcorp is targeting seven- and 10-year maturities for the new issues, which will use crude palm oil and Shariah compliant shares as their underlying assets.
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Bank Nizwa, Oman's first dedicated Islamic bank, plans to raise $156m through an initial public offering this month. The sale, managed by Oman Arab Bank , will take place from April 23, with a month long subscription period.
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Jeddah headquartered leasing firm AJIL Financial Services Company has issued a Sr500m ($133.33m) debut off-balance sheet sukuk in Saudi Arabia. The oversubscribed deal was priced at 80bp over three month Saibor.
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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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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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Plans for a new sukuk tranche from Dubai property developer Nakheel and progress on a long-awaited merger of two subsidiaries of Emirates NBD have provided signs this week that the emirate is resolving some of the problems that hit it during the financial crisis of 2008.