Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
◆ Europe's corporate bond market braces for US tech issuance surge ◆ Canada makes move for EU regs equivalence but to what end? ◆ Middle East private placements here to stay... but will take up less room
Private placements may have hung around much longer than first expected but their dominance may be at an end
Sukuk volumes much slimmer this year
Deal the first Kuwaiti Sharia-compliant transaction closed with Chinese banks
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Saudi Basic Industries Corporation (Sabic) priced a $1bn five year bond on Thursday morning. It marked the first international deal from the Middle East in months and the first in conventional format from a Saudi borrower since 2010. The rarity value helped Sabic attract demand five times the deal size, but meant the outcome offered a limited illustration of appetite for other Middle East credits.
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Saudi Basic Industries Corporation (Sabic) launched a $1bn five year bond on Thursday morning. It marked the first international deal from the Middle East in months and the first in conventional format from a Saudi borrower since 2010. The rarity value helped Sabic attract demand five times the deal size, but meant the outcome offered a limited illustration of appetite for other Middle East credits.
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Saudi Hollandi Bank hopes to sell Basel III compliant sukuk in a private sale and has asked shareholders to approve the plans.
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Almarai has given guidance of 200bp over six-month Libor as it looks to issue SR1.7bn ($453m) of perpetual tier one sukuk – the first of its kind from a Gulf corporate borrower.
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Saudi Arabian engineering firm Abdullah AM Al-Khodari Sons Company has signed Islamic finance facilities totalling SR828m ($221m).
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The Islamic Development Bank plans to issue up to $1bn of dollar sukuk next year but has decided not to tap the dollar market again in 2013.