Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Deal the first Kuwaiti Sharia-compliant transaction closed with Chinese banks
Tight spreads may tempt issuers even if all-in yields are higher than earlier in 2026
Only one Gulf issuer has printed a blue bond in the public market
Some say UAE central bank liquidity has prompted banks to retrench
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United Arab Emirates bank Al Hilal tightened guidance on its benchmark tier one perpetual sukuk to 5.75% area and capped the size of the deal at $500m. The bank expects to price the deal, which is the first Islamic tier one out of the UAE since Dubai Islamic Bank brought $1bn in March last year, as early as Tuesday.
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Turkish participation bank Albaraka Turk (rated BB by Standard & Poor’s) has given revised official guidance of 6.25% area on its five year benchmark sukuk, with pricing expected to follow on Tuesday.
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Turkish banks pushed on apace with international funding drives this week, despite rising fears over Iraq knocking some froth off their recent strong rally. Isbank and Kuveyt Türk priced well with benchmark bonds and sukuk, while Albaraka Türk completed its sukuk meetings and Ziraat Bankasi announced plans to go on the road with a long-awaited inaugural dollar deal.
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This week’s CEEMEA and Latin American bond deals were trading up across the board on Friday, regardless of whether they offered chunky or non-existent new issue concessions, reports GlobalCapital. And while relative value rather than fundamentals drive investors’ decisions, the emerging market rally is only going to run and run, said bankers.
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Banque Saudi Fransi’s SR2bn ($533.2m) Basel III compliant sukuk this week has taken Saudi Islamic bond issuance this year close to the levels reached in the first half of 2012, the industry’s high point.
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The United Kingdom has pulled ahead decisively in the lop-sided race to issue the first Western sovereign sukuk, writes Dan Alderson. Tiny rival Luxembourg could only look on this week as UK borrowing officials roadshowed the groundbreaking offering across six Gulf and Asian money centres in three days — bolstering London’s bid for regional leadership in Islamic finance.
