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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The Central Bank of Bahrain has sold BD20m ($53m) of short-term sukuk al ijara with a higher subscription than last month’s issue.
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Gulf Finance House is planning to end a seven year sukuk absence with a $200m transaction which should pique the interest of high yield accounts and hedge funds, said one investor in London. -
Emirates Airlines has signed a $425m Shariah-compliant financing facility with three local banks to help it buy new aircrafts.
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Using ijara sukuk and a highly reputed Shariah scholar can push up a sukuk issuers’ share price, according to a paper published by the International Monetary Fund paper published on Monday. Despite the high price commanded by top scholars, the study indicates that the premium issuers pay for their reputation is worthwhile. And despite the popularity of musharaka and mudaraba structures, equity investors are far happier to see a company issue ijara.
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United Arab Emirates corporate Emirates District Cooling (Emicool) has signed a 12 year $245m Shariah-compliant refinancing facility with Dubai Islamic Bank, adding to the swathe of UAE corporates that have been choosing to refinance deals early because of the favourable funding conditions on offer.
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Palm Hills Development is preparing to sign E£2.4bn ($336.5m) Shariah-compliant loan with local banks and could expand the banking group, according to a statement from the issuer.
