HSBC Saudi Arabia, Al Rajhi Capital, SNB Capital, and AlJazira Capital have been appointed as joint lead managers to lead the transaction
Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023
The Shariah-compliant bank’s total income reached Dhs9.3bn during the quarter, up 49 per cent from Dhs6.22bn the same period a year ago
Sukuk issuance is expected to plunge in Q3 2023 before picking up pace in the last quarter of the year
The issuance was met with robust demand, attracting interest from over 240 global and regional investors with the final order exceeding $7bn
The SCA board approved the decision to exempt the fee for this year for companies planning to list their sustainability-linked bond or sukuk
This is the sixth tranche under SRC’s upsized SAR20bn sukuk programme
The conglomerate will use the proceeds from its fourth green sukuk issuance to refinance an older $800m bond commitment due in May 2024
The T-Sukuk auction will be followed by a listing on Nasdaq Dubai to promote secondary market trading along with primary dealers
The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn
The Abu Dhabi-listed firm said proceeds from the issuances will be used to finance eligible green projects including renewable energy
Emirates NBD said that the sukuk received strong appetite from regional and global emerging market investors
The second tap was executed based on investor feedback and inquiries, following extensive roadshows across the UK and GCC
The three-year issue witnessed robust demand and was oversubscribed by 2.5 times
The transaction marked the largest issue size in international capital markets by a GCC bank since February 2022
Global sukuk issuance in the first half of 2022 raised $100.9bn, marginally lower than $104.2bn in H1 2021
The Indonesian government is one of the largest sukuk issuers on Nasdaq Dubai
The issuance witnessed demand from regional and international investors, with a subscription order of $720m, more than two times the offer size
The Kuwaiti stock exchange plans to introduce a central counterparty service for the cash market by the end of the year
The issuance was oversubscribed by more than 2.5 times
The sukuk will be listed on Euronext Dublin and Nasdaq Dubai
The fund was launched in October last year
The total value of the Kuwaiti bank’s sukuk on the exchange stands at $898m
The latest listing brings the bank’s current sukuk value on the exchange to $1bn
IsDB is now the largest supranational sukuk issuer on Nasdaq Dubai with a total value of $18.8bn through 13 issuances listed on the exchange since 2016
The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn
The firm is raising cash to help fund its commitment to pay out $75bn in dividends
The price of oil has doubled since October to more than $70 a barrel
DIB is the leading UAE-based sukuk issuer by value on Nasdaq Dubai with a total value of $6.3bn listed on the exchange
Adam Boukadida is hopeful that air travel will pick up towards the end of 2021