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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 - 23 January 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 208%.
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Bank of London and The Middle East has acquired a third property for its Light Industrial Building Fund. The fund, launched in April last year, is on target for an annualised yield of over 8% with quarterly cash dividends and is due to close later this year, the bank said.
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AK Bars Bank has allocated funds raised under the $60m syndicated murabaha (asset sale and purchase) Islamic financing deal it agreed in September. The debut one-year master agreement was the first public international Shariah-compliant deal in Russia and was priced in line with AK Bars' international borrowing levels at 230bp over Libor, after attracting $100m of orders.
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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.