Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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Moody's has assigned a Baa investment-grade bond fund rating to the Bank of London and The Middle East (BLME) Shariah Umbrella Fund.
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Standard & Poor's has assigned a BBB long-term counterparty credit and financial strength ratings to Riyadh-based Weqaya Takaful Insurance & Reinsurance Co. The outlook is stable, reflecting S&P's expectation that Weqaya will create a sustainable, increasingly profitable business position for itself in the competitive but expanding Saudi Arabian life and non-life insurance markets, over the two-year outlook period.
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The continuing resurgence of Islamic debt capital markets cleared another potential hurdle on Thursday when Aldar Properties confirmed it had repaid in full the outstanding $1.184bn on its maturing convertible sukuk. Most encouraging of all was that Aldar was able to do so without recourse to further Abu Dhabi government assistance or conversion into ordinary shares.
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November is shaping up to be a big month for Abu Dhabi Islamic bond issuance, with two of its banks lining up large sukuk issues.
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Tamkeen and Bahraini retail and commercial banking institution BMI Bank have extended a Shariah-compliant financing scheme for enterprises within the local private sector.
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Abu Dhabi Islamic Bank (ADIB) has said that it will begin investor meetings next week as part of plans to issue a dollar denominated sukuk. The size of the proposed transaction is not yet decided, but the bank's intensions to issue a benchmark Reg S deal suggest it could be upwards of $500m.