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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Turkey has given initial price thoughts of 325bp over mid-swaps area for its return to the international sukuk market. -
Abu Dhabi bank Al Hilal has launched a $500m five year debut sukuk at 170bp over mid-swaps – inside the 190bp guidance it gave on Monday.
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Islamic banks in the GCC are likely to grow faster than their conventional counterparts and increase their share of regional banking assets, said Standard & Poor's on Tuesday. But profitability rates for the two banking models are converging as Islamic banks are taking more of a hit from lower interest rates and non-core banking revenues than their conventional peers, the rating agency added.
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Abu Dhabi bank Al Hilal drew a $6.3bn book as it priced a $500m five year debut sukuk at 170bp over mid-swaps, inside the 190bp guidance it gave on Monday.
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Almarai has sold SR1.7bn ($453m) of perpetual tier one sukuk – the first deal of its kind from a Gulf corporate borrower.
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The government of Ras Al Khaimah (RAK) will begin a roadshow on Wednesday for a dollar denominated sukuk.
