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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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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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Bank Nizwa plans to begin operations in the third quarter this year as Oman's first dedicated Islamic bank and is seeking to launch an initial public offering in Q2.
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Saudi Arabian dairy company Almarai recently completed a debut SR1bn ($266.7m) sukuk issue. According to a company filing on the Saudi bourse today, the sale took place on Wednesday, March 7 and was issued in a private placement to domestic investors.
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A $7bn - plus wave of new issues is poised to end the international sukuk market's month-long washout, according to bankers. While timing remains uncertain, data from IFIS shows a growing number of deals are planned.
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UAE-based shopping centre developer Majid Al Futtaim is looking to raise as much as $500m through an Islamic loan to fund its Mall of Egypt development in Cairo. The company has reportedly asked Banque Misr and National Bank of Egypt to arrange the deal, which will be denominated in Egyptian pounds and may not come until near the end of the year.
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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.