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Sukuk and Islamic Finance

The Sukuk will be offered for 57 months
23 September 05:39 PM EFG Hermes lists Ijara Sukuk on EGX
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee announced the listing of Ijara Sukuk issued by EFG Hermes Securitization Company. The Ijara Sukuk is compliant with Islamic Sharia, tradable, and non-convertible, according to a …
The Sukuk has a profit rate of 1.827%
21 September 01:37 PM Emirates Islamic closes $500m Sukuk
Dubai – Mubasher: Emirates Islamic Bank has successfully closed the issuance of five-year Sukuk worth $500 million from its $2.5 billion Certificate Issuance Programme. To be listed on Nasdaq Dubai and Euronext Dublin, the Sukuk issuance saw …
The benchmark size deal is expected to close on Wednesday
16 September 10:01 AM Emirates Islamic starts marketing 5-year Sukuk
Dubai – Mubasher: Emirates Islamic Bank began on Wednesday marketing US dollar-denominated five-year Sukuk, with initial price guidance of about 170 basis points over mid-swaps, Reuters reported. The benchmark size deal of at least $500 million is …
The banks will arrange for investor calls
15 September 01:40 PM Emirates Islamic hires banks for US dollar-denominated Sukuk issuance
Dubai – Mubasher: Emirates Islamic Bank has hired banks to arrange the issuance of US dollar-denominated five-year Sukuk, Reuters reported. The hired banks are Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private …
Saudi Electricity Company
13 September 10:23 AM SEC issues $1.3bn dual-tranche International Green Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) has issued $1.3 billion International Green Sukuk, split into two tranches of five and ten years, with fixed profit rates of 1.74% and 2.413%, respectively.  Each of the two tranches is valued at …
SEC will use the Sukuk issue to finance certain eligible green projects
10 September 02:32 PM Moody's assigns A2 rating to SEC’s green Sukuk issue; outlook negative
Riyadh – Mubasher: Moody's Investors Service has assigned an A2 rating to the proposed senior unsecured green Sukuk certificates to be issued by Saudi Electricity Global SUKUK Company 5, a special purpose vehicle (SPV) established in the Cayman …
SEC will use the Sukuk issue to finance certain eligible green capital projects
10 September 10:06 AM SEC starts issuing International Green Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) said it began issuing US dollar-denominated fixed-rate RegS Senior Unsecured International Green Sukuk to finance certain eligible green capital projects. The issue starts on 10 September 2020 and …
They will not be for public subscription
9 September 11:24 AM Tabreed plans to issue $1bn bonds
Dubai – Mubasher: National Central Cooling Company (Tabreed) will authorise the board to issue bonds or Sukuk valued at $1 billion in one or more tranches to be offered to qualified investors. The bonds or Sukuk will be issued with a maturity date …
The Sukuk issuance amount will be determined as per market conditions and SEC’s requirements
9 September 10:24 AM SEC to hold calls with investors ahead of potential Sukuk issuance
Riyadh – Mubasher: Saudi Electricity Company (SEC) will begin holding calls with fixed-income investors in preparation for potential issuance of US dollar-denominated fixed-rate RegS Senior Unsecured International Green Sukuk. The issuance amount …
The Sukuk and bonds have the lowest interest rates in Dubai's history
3 September 04:50 PM Dubai completes $2bn Sukuk, bonds issuance
UAE - Mubasher: The Dubai government has completed the issuance of 10-year Islamic Sukuk worth $1 billion and 30-year government bonds of $1 billion, according to the Dubai media office. The Sukuk and bonds have the lowest interest rates in …
The company would use the sale proceeds to pay $309m in Sukuk
3 September 10:08 AM Dana Gas in talks with US firm to sell Egyptian assets
Abu Dhabi – Mubasher: The UAE's Dana Gas is holding negotiations with Texas-headquartered IPR Energy to sell its Egyptian assets, three sources told Reuters. These talks came ahead of the Emirati energy producer's repayment of some $300 million in …
Dubai is offering about 250 basis points over mid-swaps
2 September 11:57 AM Dubai starts sale in public debt markets for first time in six years
UAE - Mubasher: Dubai started on Wednesday marketing two-tranche bonds, marking its first sale in public debt markets since 2014, Reuters reported. Dubai is offering about 250 basis points over mid-swaps for 10-year Sukuk and about 4.375% for …
Dubai plans to issue benchmark bonds
31 August 09:58 AM Dubai likely to issue US dollar-denominated Sukuk, conventional bonds
UAE - Mubasher: Dubai has hired banks for a potential sale of US dollar-denominated 10-year Sukuk and 30-year conventional bonds, Reuters reported. The emirate has authorised Dubai Islamic Bank (DIB), Emirates NBD Capital, First Abu Dhabi Bank …
Sukuk issuance is forecast to grow to $115 billion in 2020
30 August 01:52 PM Millennium Information Solution launches international operations in Dubai
UAE - Mubasher: Bangladesh's Millennium Information Solution, a software company in the banking and finance industry, has recently opened its global office at the Dubai Internet City to support the $2.5 trillion (AED 9.1 trillion) global Islamic …
The open-ended fund will offer investments in global markets
30 August 09:54 AM Waha Capital launches income generating Islamic fund
Abu Dhabi – Mubasher: Waha Capital has launched a new income-focused Islamic fund called 'Waha Islamic Income Fund SP' to invest in Sharia-compliant assets across the Sukuk and equity markets. The new fund adds to the company's three …