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Sukuk and Islamic Finance

The Sukuk was oversubscribed 5.7 times
47 minutes ago DIB lists $1bn Sukuk on Nasdaq Dubai
Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of a $1 billion Sukuk on Nasdaq Dubai, according to a press release on Tuesday. With a profit rate of 4.625% per annum, the Sukuk was oversubscribed 5.7 times for attracting …
CIRA reported net profits of EGP 330.4 million in nine months
2 hours ago CIRA mulls issuance of Ijara Sukuk
Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) is currently considering to issue Ijara Sukuk compliant with the Islamic Sharia. In response to news reports about the company seeking to issue EGP 600 million Sukuk, the …
The hired banks comprise Bank ABC, CBD
16 November 12:38 PM DAE hires banks for US dollar Sukuk issuance
UAE – Mubasher: Dubai Aerospace Enterprise (DAE) has hired banks to prepare for investor calls before issuing US dollar-denominated Sukuk, Reuters reported. The hired banks comprise Bank ABC, Commercial Bank of Dubai (CBD), Credit Agricole, …
DIB has achieved the lowest yield by any bank globally
15 November 10:08 AM DIB closes lowest yield AT1 Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) has successfully closed a perpetual non-call 5.5 years Additional Tier 1 Sukuk worth $1 billion, with a profit rate of 4.625% per year.  Through this transaction, which is the only AT1 Sukuk from the GCC …
The banks will act as joint lead managers and joint bookrunners
11 November 02:22 PM DIB mandates banks for additional Tier 1 Sukuk issuance
Dubai – Mubasher: Dubai Islamic Bank (DIB) has authorised banks to arrange investor calls for a planned issuance of benchmark fixed-rate additional Tier 1 perpetual Sukuk, Reuters reported. The mandated banks comprise DIB, Emirates NBD Capital, …
The law will allow the country to enter the Islamic finance sector
4 November 03:41 PM Egypt’s cabinet approves draft law on sovereign Sukuk
Cairo – Mubasher: Egypt’s cabinet approved the new sovereign Sukuk draft law and will refer it to the parliament for approval, the Minister of Finance, Mohamed Maait, said. The country is preparing to issue its first sovereign Sukuk upon the …
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4 November 09:39 AM Banque Saudi Fransi completes SAR 5bn Additional Tier 1 Sukuk issue
Riyadh – Mubasher: Banque Saudi Fransi (BSF) said on Wednesday it has completed offering SAR 5 billion worth of SAR-denominated Additional Tier 1 Sukuk through a private placement offer. The total number of Sukuk is 5,000 based on the minimum …
The company has repurchased $221m of the Sukuk
2 November 03:36 PM Dana Gas fully redeems $309m outstanding Sukuk
Abu Dhabi – Mubasher: Dana Gas has paid off $309 million of its Sukuk, fully redeeming all its outstanding Sukuk, according to a press release on Monday. The Principal Paying Agent has confirmed the receipt of the fund, which will be disbursed to …
The capital will also support the development of Islamic financing activities
2 November 10:15 AM IsDB's private arm lists $600m Sukuk on Nasdaq Dubai
Dubai - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by the Islamic Corporation for the Development of the Private Sector (ICD). The raised capital from the five-year Sukuk will fund ICD’s development activities in its …
Etihad has hired HSBC and Standard Chartered as joint global coordinators
27 October 10:57 AM Etihad Airways begins marketing US dollar transition Sukuk
UAE - Mubasher: Etihad Airways has started marketing US dollar-denominated 'transition' Sukuk, with initial price guidance in the mid-2% area, Reuters reported. The proceeds of transition bonds are used by companies to adopt more environmentally …
The issuance size was set at SAR 270 million.
25 October 11:21 AM Saudi MoF: October 2020 issuance of SAR-denominated local Sukuk programme closed
Riyadh – Mubasher: The National Debt Management Center said it has closed the October 2020 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 270 million. The Sukuk issuances were divided …
The Sukuk has a 3.326% annual fixed return rate payable semi-annually.
22 October 10:35 AM ANB offers $750m in Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) announced it has completed offering US dollar-denominated Tier 2 capital Sukuk worth $750 million. The settlement of the Sukuk issue will take place on 28 October 2020, the bank said to the Saudi Stock …
Both of the Sukuk listing price and return will be subject to market conditions.
21 October 10:34 AM ANB starts issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) has begun issuing US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The offering start date is 21 October 2020 and the end date is …
The planned Sukuk is part of a $3 billion Sukuk programme
20 October 04:08 PM Etihad Airways plans to sell US dollar transition Sukuk
UAE - Mubasher: Etihad Airways, wholly owned by the Abu Dhabi government, seeks to issue US dollar-denominated 'transition' Sukuk, whose proceeds are used by companies to adopt more environmentally and sustainable operations, Reuters reported. …
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19 October 04:15 PM Moody's assigns Baa3(hyb) Tier 2 ratings to ANB’s trust certificate
Riyadh – Mubasher: Moody's Investors Service has assigned a Baa3(hyb) foreign currency long-term subordinated rating to Arab National Bank (ANB) Sukuk Ltd's planned issuance of backed US dollar-denominated subordinated certificates with a …
The Sukuk issue will support the bank’s capital base and fulfill its financial and strategic needs.
19 October 10:18 AM ANB plans issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) intends to issue US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The lender’s board approved on 22 September 2020 the Sukuk …
Both of the Sukuk listing price and return are subject to market conditions.
19 October 09:34 AM Banque Saudi Fransi starts issuing SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Monday said it began issuing SAR-denominated Additional Tier 1 Sukuk through a private placement offer. The number and value of any Sukuk to be offered will be determined based on market conditions. …
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18 October 09:37 AM Banque Saudi Fransi plans issuing SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday said it plans to issue SAR-denominated Additional Tier 1 Sukuk to strengthen its capital base in accordance with the Basel III framework agreement. The number and value of the potential Sukuk …
The loan will finance Porto October’s 1.38 million sqm project
15 October 12:28 PM Porto Group inks EGP 500m Musharakah deal with Banque Misr
Cairo – Mubasher: Porto Group Holding signed a funding agreement to guarantee a loan for its subsidiary Porto October. The EGP 500 million long-term Musharakah agreement was signed with Banque Misr – Islamic Banking Sector, the company said in a …
The credit facility will enable the company to redeem the Sukuk
15 October 09:38 AM Dana Gas enters $90m credit facility agreement with Mashreq Bank
UAE – Mubasher: Dana Gas has signed a credit facility agreement worth $90 million with Mashreq Bank, according to a press release on Thursday. The one-year facility, which could be extended for additional four years, is priced at an initial 3% per …