Islamic Finance

The Sukuk is listed on Euronext Dublin and Nasdaq Dubai

15 April 11:51 AM DIB closes lowest pricing on $500m Sukuk issuance

Dubai – Mubasher: Dubai Islamic Bank (DIB) has priced a perpetual non-call five and a half year Additional Tier 1 (AT1) Sukuk issuance worth $500 million with a 3.375% profit rate per annum. This transaction records the lowest pricing closed by a …

Banking and Finance

The hired banks will arrange fixed income investor calls

12 April 10:59 AM DIB hires banks to arrange USD Sukuk issuance

Dubai – Mubasher: Dubai Islamic Bank (DIB) has hired banks to arrange for a planned issuance of US dollar-denominated Additional Tier 1 Sukuk that are non-callable for six years, Reuters reported. To arrange fixed income investor calls starting on …

Sukuk and Islamic Finance

AT1 bonds are the riskiest debt instruments banks can sell

5 April 04:04 PM DIB plans to issue US dollar AT1 Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) plans to issue the US dollar-denominated Additional Tier 1 (AT1) Sukuk within this week, two sources told Reuters. AT1 bonds, which are the riskiest debt instruments banks can sell, are perpetual in …

Sukuk and Islamic Finance

The total value of IsDB Sukuk on Nasdaq Dubai reached $17.14 billion

5 April 01:33 PM IsDB lists $2.5bn sustainability Sukuk on Nasdaq Dubai

UAE - Mubasher: Nasdaq Dubai has welcomed the listing of five-year sustainability Sukuk worth $2.5 billion by Islamic Development Bank (IsDB), which supports development across its 57 member countries. Priced at par with a profit rate of …

Sukuk and Islamic Finance

Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk

1 April 10:53 AM Bank Albilad commences SAR-denominated Tier 2 Sukuk offer

Riyadh – Mubasher: Bank Albilad has started offering a domestic SAR-denominated Tier 2 Sukuk for up to SAR 3 billion by the way of private placement in Saudi Arabia. For the holders of the previously issued SAR 2 billion Sukuk due in 2026, the …

Sukuk and Islamic Finance

Photo Archive

25 March 03:39 PM Bank Albilad to issue SAR 3bn Tier 2 Sukuk

Riyadh – Mubasher: Bank Albilad plans to issue a domestic Saudi Riyal (SAR) denominated Tier 2 Sukuk valued at up to SAR 3 billion through a private placement in the local market. The potential offer may include an option for holders of the …

Banking and Finance

Photo Archive

24 March 04:30 PM GFH inks agreement with Bahrain Bourse, CBB to join Murabaha service

Mubasher: GFH Financial Group has entered into an agreement with Bahrain Bourse (BHB) and the Central Bank of Bahrain (CBB) to provide its clients with the Murabaha service. Launched by BHB in May 2020, the Murabaha service will be offered through …

Sukuk and Islamic Finance

Number and value of Sukuk will be determined based on market conditions - (Photo Archive)

24 March 01:11 PM Arabian Centres plans to issue USD-denominated Shariah-compliant Sukuk

Riyadh - Mubasher: Arabian Centres Company (ACC) plans to issue US Dollar (USD) denominated Shariah-compliant Sukuk to achieve the company’s financial and strategic objectives. The number and value of the Sukuk will be determined based on market …

Sukuk and Islamic Finance

The company also plans to issue Sukuk denominated in US dollars by the end of this year.

9 March 11:08 AM Saudi Real Estate Refinance Co sells domestic Sukuk

Riyadh – Mubasher: Saudi Real Estate Refinance Co (SRC), modelled on US mortgage finance firm Fannie Mae, has issued SAR 4 billion ($1.07 billion) in a two-tranche private placement of Sukuk last week, the company’s chief executive, Fabrice …

Sukuk and Islamic Finance

Photo Archive

7 March 11:17 AM NCB to redeem SAR 2.7bn Tier 1 Sukuk

Riyadh – Mubasher: The National Commercial Bank (NCB) on Sunday said it will redeem its SAR 2.7 billion Tier 1 Sukuk on 23 March 2021, in full and at par value. The Sukuk was offered through private placement on 23 December 2015, for an amount of …

Sukuk and Islamic Finance

The five-year Sukuk was offered through a private placement in 2016

4 March 12:12 PM Sipchem plans early redemption of SAR 1bn Sukuk

Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) on Thursday announced the proposed early redemption of its SAR 1 billion Sukuk in full at face value. The Sukuk was offered through a private placement in 2016 for an amount …

Sukuk and Islamic Finance

The team implemented its first two transactions from Russia

23 February 12:32 PM Emirates NBD Capital completes 60 debt capital transactions in 2020

Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has completed 60 debt capital transactions in 2020 across the GCC, Turkey, India, China, and Russia. Emirates NBD Capital ranked third in terms of the number of …

Sukuk and Islamic Finance

The company will also allow the board to issue additional Tier 1 non-convertible Sukuk

21 February 11:00 AM DIB's shareholders to authorise board to issue senior, additional Tier 1 Sukuk

Dubai – Mubasher: The shareholders of Dubai Islamic Bank (DIB) will consider authorising the board to issue any senior Sukuk or similar instruments, which are not convertible into shares, at a total amount not exceeding $7.5 billion. During its …

Sukuk and Islamic Finance

The listing request was submitted by the Saudi Ministry of Finance

18 February 04:42 PM Tadawul approves government debt instruments listing

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has approved to list the debt instruments from a class already listed, issued by the Saudi government at a total value of SAR 3.16 billion. The listing request was submitted by the …

Sukuk and Islamic Finance

The Sukuk issuances were divided into two tranches.

17 February 12:28 PM Saudi MoF closes February issue of local Sukuk Program at SAR 3.16bn

Riyadh – Mubasher: The Saudi National Debt Management Center (NDMC) has closed the February 2021 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 3.160 billion, the Ministry of Finance …

Sukuk and Islamic Finance

The Sukuk has a 10-year maturity period

9 February 04:50 PM Riyad Bank completes Tier 2 capital-eligible Sukuk issuance

Riyadh – Mubasher: Riyad Bank has completed the issuance of SAR-denominated Tier 2 capital-eligible Sukuk worth SAR 3 billion. A total of 3,000 Sukuk were offered by way of a private placement in Saudi Arabia with a nominal value of SAR 1 million, …

Sukuk and Islamic Finance

The total number of primary issuances during last year totalled 360.

3 February 02:28 PM Bonds, Sukuk primary issuances in GCC see value rising to $132.7bn in 2020

Mubasher: Primary debt issuances in the GCC region set a new record for the total value of issuances raised in one year, despite the double blow of the Covid-19 outbreak and the subsequent decline in oil prices, according to Kuwait Financial …

Bonds

A total of 6,250 Sukuk were offered at a par value of $200,000 each.

26 January 04:53 PM NCB offers USD-denominated Additional Tier 1 Sukuk at SAR 1.25bn

Riyadh – Mubasher: The National Commercial Bank (NCB) has completed the offering of US dollar-denominated Additional Tier 1 Sukuk. The offering value amounts to SAR 1.25 billion. A total of 6,250 Sukuk were offered at a par value of $200,000 each, …

Banking and Finance

The Sukuk issuances were divided into two tranches.

20 January 01:01 PM Saudi MoF closes January issue of local Sukuk Program at SAR 2.95bn

Riyadh – Mubasher: The Saudi National Debt Management Center (NDMC), affiliated to the Ministry of Finance (MoF), has closed the January 2021 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at …

Sukuk and Islamic Finance

Each of the minimum subscription value and Sukuk par value amounts to $200,000.

20 January 10:08 AM NCB starts issuing USD-denominated Additional Tier 1 Sukuk

Riyadh – Mubasher: The National Commercial Bank (NCB) started issuing US dollar-denominated Additional Tier 1 Sukuk on Wednesday. The number and value of any Sukuk to be offered will be determined based on market conditions, according to a stock …

Sukuk and Islamic Finance

The Sukuk offering end date is 9 February 2021.

20 January 09:28 AM Riyad Bank starts offering Tier 2 Sukuk

Riyadh – Mubasher: Riyad Bank began on Wednesday offering SAR-denominated Tier 2 capital-eligible Sukuk by way of a private placement in Saudi Arabia. The amount of the issue and number of Sukuk will be determined as per market conditions, …

Companies Investments

The potential offer aims is to strengthen the bank’s capital base.

19 January 04:42 PM Riyad Bank plans issuing Tier 2 Sukuk

Riyadh – Mubasher: Riyad Bank on Tuesday announced its intention to set up a domestic SAR-denominated Sukuk issuance programme of up to SAR 10 billion. This comes in a bid to issue and offer senior and/or subordinated Sukuk including the issuance …

Banking and Finance

The potential offer aims to enhance the bank's tier 1 capital.

17 January 09:14 AM NCB plans issuing dollar Additional Tier 1 Sukuk

Riyadh – Mubasher: The National Commercial Bank (NCB) said on Sunday that NCB Tier 1 Sukuk Limited, an exempted company with limited liability in the Cayman Islands, intends to issue US dollar-denominated Additional Tier 1 Sukuk. The potential …

Sukuk and 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%, …

Banking and Finance

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 …