Saturday 30 May 2015
 
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sukuk

As sovereign issues grow, pricing and design stymie corporate sukuk

Sukuk issuance by governments around the world is expanding, helping to bring Islamic finance into the mainstream. But in one respect, the sovereign issues are proving a disappointment: they are not encouraging sukuk sales by companies.

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Saudi Binladin plans up to $265m sukuk

Saudi Binladin Group (SBG) has begun marketing a 364-day sukuk issue to local investors in the kingdom which could raise up to SR1 billion ($265 million) for the construction firm, sources aware of the matter said on Thursday. The

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Bahrain cbank’s sukuk ‘fully subscribed’

The Central Bank of Bahrain has announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been fully subscribed by 100 per cent. Subscriptions worth BD26.1 million ($68.7 million) were received

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Saudi British Bank plans capital-boosting sukuk sale

Saudi British Bank (SABB) is planning to sell a riyal-denominated sukuk that will boost its capital reserves, sources aware of the matter told Reuters on Thursday, with an announcement set to be made as early as next week. The iss

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Saudi debt markets could open to foreign investors

The current makeup of Saudi Arabia’s debt market, and the options for large enterprises looking to raise funds formed the focus for a discussion at the Euromoney Saudi Arabia Conference which concluded yesterday (May 6) in Riyadh.

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Bahri hopes to issue $1bn sukuk this quarter

National Shipping Company of Saudi Arabia (Bahri) plans to make a debut sukuk issue worth up to SR3.9 billion ($1.04 billion) this quarter, the company's vice chief executive officer for finance Mohammad Alotaibi said. "H

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Noor Bank launches $500m debut sukuk

Dubai's Noor Bank has launched a $500 million, five-year debut sukuk issue that will price later on Tuesday, a document from lead arrangers showed. The transaction was set to price at a spread of 130 basis points over midswaps

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IDB unit to lead manage $480m Ivory Coast sukuk

The Islamic Corporation for the Development of the Private Sector (ICD), an arm of the Jeddah-based Islamic Development Bank, said it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast.

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Senegal seeks Saudi IDB’s help to organise sukuk bond

Senegalese President Macky Sall has asked the Saudi Arabia-based Islamic Development Bank (IDB) to help the West African country tap the Islamic finance market for a second time as it seeks to organise financing for infrastructure projects.

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HSBC unit raises $205m in Malaysia sukuk sale

The Malaysian Islamic banking arm of HSBC Holdings has raised 750 million ringgit ($205 million) from the sale of a five-year Islamic bonds (sukuk) at a yield of 4.24 per cent, IFR reported. The sale is the third tranche of the le

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