Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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Bankers worried about a dollar sukuk issuance backlog mounting up towards the end of the year are pushing issuers to accelerate their plans and come to market sooner. -
The dollar sukuk market has seen three issues so far this year, with three great results capped off by the Islamic Development Bank boldly entering new territory with an unprecedented $1.5bn last Thursday. But while each of these deals has stirred Islamic finance professionals to proclaim the growing profile and pools of capital for the asset class, the market is yet to see a true test of demand.
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Kuwait's Zain Group has signed an $800m five year revolving credit facility less than a week after Commercial Bank of Qatar signed the first Middle Eastern loan this year.
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Bahrain’s central bank Waqf Fund is to form a committee to oversee external Shariah auditing of Islamic banks and financial institutions – an initiative that authorities hope will reposition the Kingdom as a hub for Islamic finance.
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The dollar sukuk market has seen three issues so far this year, with three great results capped off by the Islamic Development Bank boldly entering new territory with an unprecedented $1.5bn last Thursday. But while each of these deals has stirred Islamic finance professionals to proclaim the growing profile and pools of capital for the asset class, the market is yet to see a true test of demand.
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Oman’s Bank Muscat, plans to expand its Euro Medium Term Note programme from $800m to $2bn as it seeks to issue another Eurobond. It also plans to raise funds through a Or500m ($1.3bn) sukuk programme with the possibility of international sukuk later on said a senior official at the bank.
