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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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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 of London and The Middle East has signed a £13.5m development financing facility with Aitch Group, a London-based residential and commercial property developer.
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Islamic finance contributed to a positive tone in United Arab Emirates markets on Monday, with Dubai government-owned Jebel Ali Free Zone (Jafza) reportedly holding talks with banks on refinancing its AED7.5 bn ($2.04bn) sukuk due in November. The sukuk was quoted around 94.5 on Monday, with a profit rate of around 9.75%.
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Bursa Malaysia's head of Islamic capital markets, Wan Rizaidy, has left the company and has joined the Saudi Stock Exchange (Tadawul) as cash markets advisor. He will report to Waleed Bawardi, director of Tadawul's cash markets department.
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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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Saudi Arabia's Al Rajhi Bank has appointed Azrulnizam Abdul Aziz as chief executive officer of Al Rajhi Bank (Malaysia), its wholly owned subsidiary. He will report to Saudi-based group CEO Abdullah Al Rajhi.