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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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Dubai government-owned Jebel Ali Free Zone (Jafza) is pushing ahead with plans for a syndicated loan, reportedly worth around Dh3.3bn ($900m). This represents the first component of a three-part financing plan that Jafza submitted to creditors last week as it looks for a way to repay a Dh7.5bn sukuk maturity in November.
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Morocco's government hopes to gain approval by the end of the year for a draft bill which will set out regulations aimed at integrating Islamic finance within its banking system – paving the way for Morocco's first fully formed Islamic banks to set up in 2013.
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Saudi Electricity Co's debut international sukuk looks set to be heavily oversubscribed, say market participants, despite rumours that the firm intends to issue in large size and add a longer dated tranche.