Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Tight price and strong book reported as market awaits geographic breakdown
Flood of AT1s expected to follow the first public trade from the Gulf in over two months
Announcements could come as early as Monday, the two month anniversary of the last public GCC trades
Islamic investors have been a safe haven for Gulf issuers in the past, and can be now
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Flydubai has launched its $500m five year sukuk at 200bp over mid-swaps. The deal will be priced later on Wednesday afternoon, with the lead managers on the trade disclosing that they will be taking a piece of the sukuk. -
Bahrain’s sovereign wealth fund Mumtalakat priced a seven year debut sukuk on Tuesday, which debt bankers said came flat to or even inside the sovereign curve. They put this down to credit quality, scarcity value and exceptional liquidity in the Middle East. But they felt that the additional rarity of the sukuk format was also a contributing factor, which other potential issuers should do well to note.
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Luxembourg’s regulator is expected to approve what will be the Eurozone’s first wholly Sharia-compliant bank in a matter of weeks, Marco Lichtfous, partner at Deloitte Consulting in Luxembourg told IFIS.
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Debt bankers are hoping to bring a new German corporate borrower to the sukuk market in 2015, participants at an EU Islamic banking and finance conference in London told IFIS.
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Dubai Islamic Bank (DIB) and Air Arabia announced on Wednesday they had signed of $230m ijara facility.
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Flydubai printed a debut sukuk on Wednesday, receiving over $2.6bn in orders for its five year dollar deal.
