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Kuwait joins PP party
The Iran war has led to a flurry of private trades from the Gulf
Even if ceasefire succeeds, investors will still want a risk premium
Funding costs and new issue premiums are much higher than GCC issuers are used to
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Sukuk supply looks set to step up in the first half of February, after two Gulf borrowers this week announced plans for roadshows ahead of potential dollar deals in the format.
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Sukuk supply looks set to step up next week after Dubai Islamic Bank became the second borrower in two days to announce plans to meet investors ahead of a potential dollar deal in the format.
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Equate Petrochemical Company will meet investors next week ahead of a potential sukuk market debut.
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Dubai’s sovereign wealth fund defied doubters on Wednesday with the successful launch of a $1bn 10 year sukuk at tight pricing levels.
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The Investment Corporation of Dubai (ICD) is on course to become the first borrower to issue in sukuk format this year after emerging with pricing for a 10 year dollar note.
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Saudi Basic Industries Corp (Sabic) has reopened discussions with banks for a loan of as much as $2bn, having put funding plans on hold last year.