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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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The Abu Dhabi Securities Exchange announced that Watania Takaful will be listed in its insurance sector from Monday, November 14. It becomes the 10th stock market-listed takaful company in the UAE.
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Indonesia today sold $1bn of seven-year sukuk at a profit rate of 4% - a quarter point inside its earlier 4.25% price guidance. This result was achieved after the deal received an order book of over $6.5bn from international banks and investors.
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Kuala Lumpur based RHB Banking Group has appointed Encik Johari Muid as managing director with oversight of its commercial banking business in Malaysia and the region. RHB has also appointed Renzo Viegas as deputy managing director.
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Saudi based Acwa Power has closed an inaugural $300m murabaha credit facility. The company intends to use this help fuel its expansion plans outside Saudi Arabia over the next four years, trebling its power capacity and doubling its water production.
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Fitch Ratings has assigned a B+ expected rating to Asya Katilim Bankasi's forthcoming sukuk issue. Fitch will give a final rating upon receipt of documentation.