Listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totaling $60.89bn
Islamic bonds
Fabrice Susini
Saudi Real Estate Refinance plans $2.3bn in sukuk sales
Saudi Real Estate Refinance – the state-run equivalent of Fannie Mae and Freddie Mac in the US – will tap domestic and international debt buyers with Islamic bond
bond market
Why Oman has work to do before bond sale
If Oman does tap the international bond market, it would join a plethora of governments who sought to take advantage of sudden surge in risk appetite
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Hajj flights
Indonesia scouts for investment targets for $8bn Haj fund
The Saudi government has set Indonesia’s Haj quota at 221,000 this year, the largest contingent of pilgrims to attend the rite
Citigroup
Dubai Investments unit said to hire HSBC, Citigroup for sukuk
Sources say the sale of Islamic bonds by Dubai Investments Park Development could raise about $500m
budget deficit
Saudi Arabia raises $2bn to help fill budget deficit
Saudi Arabia plans to borrow a total of about $31bn this year to bridge deficit brought on by lower oil prices
budget deficit
Saudi Arabia said to start $2bn Islamic bond sale
Saudi Arabia has started the sale of dollar-denominated Islamic bonds and is seeking to raise about $2bn
Fitch Group
Structural constraints holding back sukuk growth, says Fitch
Total volume of sukuk rated by Fitch stood at $80 billion at the end of the first quarter, a net increase of 6 percent from end-2017
Dana Gas
Dana said to reach deal with main holders of $700m sukuk
Dana Gas agreement potentially ends a debt saga that started a year ago, when the company first announced it would restructure the notes due to delays in gas payments from Egypt and Iraq’s Kurdish region
Islamic banking
Sharjah Islamic Bank celebrates listing of $500m sukuk
Mohammed Abdulla, CEO of Sharjah Islamic Bank, rings the market opening bell at Nasdaq Dubai
Damac Properties
Dubai’s Damac in talks with banks for possible dollar sukuk issue – sources
Early last year Damac sold a $500 million five-year sukuk issue
Aviation
Emirates is said to pick banks to arrange $1bn sukuk
Emirates will join a list of regional issuers seeking funding from international bond markets before increased rates