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Islamic Finance

The Sukuk was issued at MS+90bps
11 January 09:36 AM FAB issues five-year $500m Sukuk
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has issued a five-year Sukuk worth $500 million through FAB Sukuk Company Limited, according to a press release on Monday.  The Sukuk was issued at MS+90bps and with an all-in yield of 1.411%, …
The GCC governments have issued $47.5 billion bonds
30 December 2020 03:19 PM GCC records $142bn bond, Sukuk issuances in 11M
Mubasher: The total value of issuances in the GCC region reached about $142 billion year-to-date (YTD)-November-2020, almost in line with last year's levels. The full-year 2020 issuances are forecast to marginally exceed last year's …
Sukuk maturities are predicted to be at $115.7 billion over the next five years.
30 December 2020 02:58 PM GCC governments could see $157.1bn in fixed income maturities in 5 yrs
Riyadh – Mubasher: GCC governments are expected to see $157.1 billion in fixed income maturities over the next five years (2021-2025) whereas corporate maturities stand at $164.3 billion, Kamco Invest said in a report on Wednesday. A majority of …
The issuance of the Sukuk is managed by EFG Hermes
29 December 2020 00:19 PM CIRA gets FRA's approval for EGP 600m Sukuk issuance
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) gave the greenlight to EFG Hermes Sukuk Co to issue Ijara Sukuk for Cairo for Investment and Real Estate Development (CIRA). The Sharia-compliant Sukuk will be offered for …
FRA expects Sukuk issuances worth EGP 10 billion in 2021
28 December 2020 03:19 PM Egypt’s FRA approves third Sukuk issuance in 2020 valued at EGP 600m
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the third Sukuk issuance in 2020 with a value of EGP 600 million at a nominal value of EGP 100 apiece. The Ijara Sukuk, compliant with Islamic Sharia and non-convertible …
23 December 2020 11:45 AM CIRA's shareholders approve EGP 600m Ijara Sukuk issuance
Cairo – Mubasher: The extraordinary general meeting (EGM) of Cairo for Investment and Real Estate Development (CIRA) approved the issuance of Ijara Sukuk worth EGP 600 million for a maximum period of 48 months. The Ijara Sukuk, which is compliant …
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21 December 2020 10:35 AM Arabian Aramco Total partially redeems Sukuk
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC), a subsidiary of Saudi Aramco Total Refining and Petrochemical Company (SATORP), on Monday announced the partial redemption of its semi-annually scheduled Sukuk. A sum of SAR 141.746 …
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30 November 2020 04:50 PM Tadawul approves listing of SAR 794.5m gov’t debt instruments
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has approved a listing request of debt instruments from a class already listed, issued by the Saudi Arabian government and submitted by the Ministry of Finance. The total value of the listed …
The Saudi banks’ holdings of government bonds rose by 13.86% YoY in October.
30 November 2020 04:07 PM Saudi banks’ investments in gov’t bonds hit SAR 431.6bn in 10M
Riyadh – Mubasher: Saudi banks increased their government bond holdings by 12.49% in the first ten months of 2020 to SAR 431.58 billion, compared with SAR 383.67 billion at the end of 2019. In October 2020, the banks’ holdings of government bonds …
The issuance will be managed by EFG Hermes
29 November 2020 01:03 PM CIRA's board approves EGP 600 Sukuk issuance
Cairo – Mubasher: The board of directors of Cairo for Investment and Real Estate Development (CIRA) approved a decision to issue Ijara Sukuk worth up to EGP 600 million. The issuance, still pending shareholder approval, will be managed by the …
The Sukuk has an interest rate of 3.908%
26 November 2020 11:50 AM DP World announces profit distribution for $1.2bn Sukuk
Dubai – Mubasher: DP World Crescent Limited has approved the periodic profit distribution for $1.2 billion Sukuk, according to the company's disclosure to Nasdaq Dubai. Due in 2023, the Sukuk has an interest rate of 3.908%. The total value of the …
Emirates NBD Capital was the sole manager of the transactions
25 November 2020 01:40 PM Dubai collects $1.5bn from reopening of existing debt instruments
Dubai - Mubasher: Dubai government has raised $1.5 billion this week from the reopening of existing debt instruments, according to Bloomberg. Emirates NBD Capital, a wholly-owned subsidiary of Emirates NBD, was the sole manager of the transactions …
The Sukuk was oversubscribed 5.7 times
24 November 2020 01:42 PM 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
24 November 2020 00:22 PM 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 2020 00:38 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 2020 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 …