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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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Manama, Bahrain - 26 March 2012 - The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD18 million issue, which carries a maturity of 91 days, has been subscribed by 167%.
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Dubai World company Palm Utilities has closed a Dh1.14bn ($310m) financing facility for its district cooling business. The seven-year club facility comprises both a conventional and Islamic tranche, with proceeds to be used in refinancing an existing facility.
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Saudi construction company Al-Khodari Sons Company agreed murabaha (Islamic financing) facilities worth SR968m ($258m) with Samba Financial Group over the weekend.
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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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Stanford Marine Group, a Dubai headquartered supplier and operator of offshore supply vessels, has agreed a $175m loan to put towards growth capital and refinancing existing debt. Noor Islamic and Standard Chartered arranged the senior secured club facility, which is dual currency (dollar and UAE dirham) and comprises both murabaha and conventional tranches.
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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.