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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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In research published today, Global Investment House maintains a 'hold' recommendation on Qatar Islamic Bank (QIB) and Masraf al Rayan (MAR) despite being bullish on the Qatar banking sector as a whole – with a 'buy' recommendation on Qatar National Bank and a 'strong buy' on Commercial Bank of Qatar.
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US based Saturna Capital Corporation's wholly owned Malaysian subsidiary has agreed to act as the portfolio manager for the forthcoming Crescent International Equity Fund, which will be launched by Australia's first Islamic wealth manager Crescent Wealth later this year.
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A move is underway in the Islamic finance market to add to its oft-stated 'ethical investment' claims by channelling expertise towards climate change projects and investments – in particular through 'green sukuk'.
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Malaysia's Syarikat Prasarana Negara (National Infrastructure Company) has said it expects to issue upwards of MY4bn ($1.32bn) this year to finance two Ampang Line light rail transit line extensions in Kuala Lumpur. This will possibly be issued in two sukuk tranches of MYR2bn each.
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Malaysia headquartered CIMB Islamic has established a commanding lead in overall sukuk arranging so far this year, according to IFIS data. The $10.67bn worth of sukuk it has arranged this year to date is greater even than that of Bank Negara Malaysia's $9.51bn on behalf of the Malaysian government.
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Dollar sukuk issuance so far this year is more than triple the amount by this time last year, according to IFIS data . The four deals so far in 2012 total $1.7bn, which easily outstrips the single $500m deal seen by March 2011.