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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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An Emirati financial has mandated banks for a tier one dollar transaction, adding to the Middle East post-summer pipeline.
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Malaysia’s Johor Corp (JCorp) has fixed the pricing of its Al-Salam Reit IPO at MR1 ($0.25) per unit, with bookbuilding scheduled to begin at the start of September.
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The global sukuk market is heading for a correction in 2015, with total supply dropping between 40%-50%, according to Standard & Poor’s. But its claim of a stalling sukuk market overlooks thriving international benchmark issuance.
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The global sukuk market is heading for a correction in 2015, with total supply dropping between 40%-50%, according to Standard & Poor’s. But their claim of a stalling sukuk market overlooks thriving international benchmark issuance.
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The sukuk market has managed a record first half volume this year, although with the Greek debacle threatening a long and volatile summer debt bankers have doubts a full year record is possible.
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HSBC sits in its traditional top stop in the sukuk league table halfway into to what should be a record year for international benchmark issuance. But its lead has shrunk to the smallest margin in five years, with regional banks snapping at its heels.