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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Genel Energy, the largest independent oil producer in the Kurdistan Region of Iraq, priced its $500m senior unsecured 2019s 7.5% late last week, taking $100m more than the size indicated on April 25 when it started marketing the deal.
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IFIS's exclusive article last week on the United Arab Emirates’ shortfall in bankruptcy rules (“UAE urged to act on Basel III bankruptcy baffler”) has highlighted a Basel III compliance problem that is holding back the whole Gulf region, say bankers. But while the UAE has so far been lax in its response, it should take the lead and spur its neighbours to follow suit. -
Bank Muscat’s debut sukuk is being delayed by a hold up in the Central Bank of Oman’s approval process, according to a senior Bank Muscat official. The bank is also yet to make any decision on the amounts, currencies or maturities it will issue, the official added – in denial of recent media reports.
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Abu Dhabi Islamic Bank’s recent tweaking of its $5bn sukuk programme to include provisions for tier two deals has highlighted a shortfall in local rules that is holding back the Basel III regulatory push in the United Arab Emirates, said bankers.
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The European Bank for Reconstruction and Development will partner with the Islamic Corporation for the Development of the Private Sector on a $120m investment fund to support small and medium size enterprises in Egypt, Jordan, Morocco and Tunisia.
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Kyrgyzstan is looking to introduce rules for sukuk and takaful in the country and has engaged international law firm Simmons & Simmons to set up a consultancy.
