Oman Telecommunications Co (Omantel) scrapped plans for a $130 million, five-year dual-currency sukuk issue because the interest rates offered by lenders were too high, the company's chief executive said.
Last month, the state
The final quarter (Q4) of 2015 echoed the sluggish IPO (Initial Public Offering) performance in Q3 proving that 2015 was a volatile year for IPOs in the GCC, said experts, highlighting that Saudi Arabia witnessed the only IPO during Q4.
The government of Qatar is in talks with banks about a sovereign sukuk issue, sources aware of the matter said on Monday, as the Gulf nation returns to international debt markets to shore up state finances pressured by low energy prices.
The emirate of Sharjah will raise $500 million through a five-year sukuk transaction, which could price as early as Wednesday, a document from lead arrangers showed.
The sovereign is currently retaining the pricing, as announced o
Jeddah-based Islamic Development Bank (IDB) has invited banks to pitch for roles in arranging a potential dollar-denominated sukuk, sources familiar with the matter told Reuters on Thursday.
The AAA-rated IDB i
Oman Telecommunications Co (Omantel) has opened for subscription its debut RO50 million ($129.9 million) sukuk issue, the former monopoly said on Wednesday.
The Islamic bond will have a lifespan of five years, with investors allow
Global sukuk issuance is expected to reach $50 billion$55 billion in 2016, compared with $63.5 billion in 2015 and $116.4 billion in 2014, a Standard & Poor's Ratings Services report said.
Absent its biggest issuer, the gl
The emirate of Sharjah is planning to raise funds through a dollar-denominated Islamic bond, sources aware of the matter said on Tuesday, in what could be the first sovereign sukuk issuance from the Gulf region this year.
The sources sa
Saudi Arabia's National Commercial Bank (NCB) has completed a subordinated Additional Tier 1 Capital Sukuk worth worth SR2.7 billion ($719.54 million), the company announced in a bourse statement on Wednesday.
Dubai property developer Nakheel said it has made a profit payment of Dh220 million ($60 million) on its trade creditor sukuk.
The developer had instructed Deutsche Bank, the registrar and paying agent for the sukuk, to make the p