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Books over $1.5bn at launch at a spread of 80bp over Treasuries
Gulf issuance will take a pause due to the Eid holiday next weekend, but June could be busy
EM investors may be happy to see some senior supply after glut of tightly priced AT1
Strong local bids enable AT1 sukuk issuers to set yields far below where overseas buyers see fair value
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Saudi property developer Dar Al Arkan has tightened price guidance for its sukuk, with books for the deal hitting $1.1bn.
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Dar Al Arkan has released initial price guidance for its dollar benchmark sukuk.
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Islamic Development Bank released price guidance for its dollar benchmark sukuk on Wednesday and leads are expecting to price the note on Thursday.
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Dar Al Arkan Real Estate Development Company has mandated eight banks to arrange a dollar benchmark five year sukuk.
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The Islamic Development Bank (IsDB) has mandated eight banks to roadshow a benchmark five year Reg S sukuk with a view to adding a 10 year tranche as well.
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The Republic of Indonesia’s maiden green sukuk last week was a landmark for green finance, becoming the first green sovereign issue in Asia, and one of just a handful globally. Indonesia deserves to be lauded for its efforts, but it’s too soon to judge the country by its one green financing exercise — especially as the nation is far from environmentally friendly.