Sharjah Islamic Bank (SIB) priced a $500 million sukuk of five years duration on Tuesday, a document from lead managers showed.
The Islamic bond was priced at a spread of 110 basis points over midswaps and carried a profit rate of
Oman Telecommunications (Omantel) said on Sunday its board would seek shareholder approval for a debut issuance of Islamic bonds, or sukuk, only the second such corporate deal in the Sultanate.
The proposed sukuk, for which no siz
Oman plans to make its first sovereign issue of Islamic bonds, a 200 million rial ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices, the head of its central bank said on Sunday.
Islamic bond programmes from a trio of big conventional banks are set to expand the boundaries of Islamic finance, helping open the market to first-time issuers while testing the banks' ability to win over industry purists.
The South African government plans to raise at least $500 million in its first issue of Islamic bonds, a Treasury official indicated.
"South Africa is looking to issue a benchmark-size sukuk and the tenor will be in line with
Investors treat a company's shares differently depending on the specific types of Islamic bond it issues and the reputation of the Islamic scholars who oversee the instruments, a study by the International Monetary Fund found.
Hong Kong has mandated HSBC, Standard Chartered, CIMB Group Holdings and National Bank of Abu Dhabi to arrange its first Islamic bond issue, IFR has reported.
The Hong Kong Monetary Authority is handling the deal, which is expecte
Britain became the first Western country to sell an Islamic bond on Wednesday, drawing orders of more than 2 billion pounds ($3.39 billion) - over 10 times the planned issue amount.
The five-year sukuk issue, intended to raise 200
The British government has mandated banks to arrange a five-year 200 million pound ($336 million) sukuk - the world's first Islamic bond to be issued by a Western sovereign.
The Islamic bond could be issued in the coming weeks
Hong Kong legislators passed a bill that will allow the AAA-rated government to raise around $500 million via sukuk, or Islamic bonds.
A debut sukuk from Hong Kong would help boost its Islamic finance credentials and position itse