News Brief

 

CORPORATE AL HILAL PIONEERS BLOCKCHAIN UAE: Al Hilal Bank has partnered with Jibrel Network to use blockchain technology to transact a secondary market deal for its US$500 million senior Sukuk maturing in September 2023. In a first for the Islamic finance industry,

News Brief

 

CORPORATE ALPHA CIRCLE ISSUES IMTN MALAYSIA: Alpha Circle has floated an Islamic medium-term note (IMTN) for RM63 million (US$15.04 million) with a profit rate of 5%. The IMTN, which will mature on the 21st November 2019, was arranged by RHB Investment Bank.

News Brief

 

CORPORATE DANA GAS ANNOUNCES BUYBACK UAE: Dana Gas has announced a buyback of approximately US$99 million or 4% Nile Delta Sukuk certificates – both Reg S and 144A. The bought-back Sukuk will be delivered to the Bank of New York Mellon, which

News Brief

 

CORPORATE MAALEM RECEIVES RATING APPROVAL SAUDI ARABIA: Maalem Financing Company, which is planning to print Sukuk, has received a preliminary long-term rating of ‘BB’ from Simah Rating Agency for the proposed issuance. EMAAR SELECTS BANKS UAE: Emaar Properties has reportedly mandated Standard

News Brief

 

CORPORATE AQRS OBTAINS ISLAMIC FINANCING MALAYSIA: AQRS The Building Company, a wholly-owned subsidiary of Gabungan AQRS, has signed a fresh Islamic banking facility in acceptance of the fresh Islamic term financing facility-i of up to RM115 million (US$28.02 million) from Maybank Islamic.

News Brief

 

CORPORATE MORTAGE-BACKED SUKUK FOR AUTO FIRM IRAN: The Securities and Exchange Organization of Iran has given its principal consent to Kerman Motor to float mortgage-backed Sukuk. The IRR2 trillion (US$45.75 million) Sukuk facility has a tenor of three years and a coupon

News Brief

 

CORPORATE BINA DARULAMAN ISSUES ICP MALAYSIA: Bina Darulaman has floated a RM50 million (US$12.49 million) three-month Islamic commercial paper (ICP). The deal is arranged by Maybank Investment and matures on the 19th September 2018. AEON FLOATS PAPER MALAYSIA: AEON Co has floated

News Brief

 

CORPORATE NOOR BANK LISTS SUKUK ON NASDAQ DUBAI NASDAQ Dubai has admitted Noor Bank’s US$500 million five-year Sukuk. The Sukuk facility, which was oversubscribed 2.1 times, brings the current value of Sukuk listings on NASDAQ Dubai to US$59.72 billion. SABAH CORPORATION SELLS

News Brief

 

CORPORATE ALAWWAL BANK INKS FINANCING AGREEMENT SAUDI ARABIA: Abdullah A M Al-Khodari Sons Company has renewed its Islamic credit facilities agreement with Alawwal Bank, according to a bourse filing. The agreement, which includes a Murabahah financing, is worth SAR330 million (US$87.96 million).

News Brief

 

CORPORATE AEON ISSUES SUKUK Malaysia’s AEON Co has printed a RM100 million (US$25.52 million) Islamic commercial paper (ICP) maturing on the 20th April 2018, according to a statement on the Bond and Sukuk Information Exchange. GAMUDA SELLS ISLAMIC NOTES Leading Malaysian infrastructure

News Brief

 

CORPORATE IRAN BUDGET BODY AUTHORIZE SUKUK Iran’s Majlis Joint Commission, a parliamentary body responsible for reviewing the budget bill, has allowed state-owned companies, ministries, universities, higher education organizations and science and technology parks to issue up to IRR70 trillion (US$1.89 billion) worth

News Briefs

 

CORPORATE NEW SUKUK FOR MUDAJAYA Mudajaya Group, a Malaysian construction company, said Tuesday it plans to raise up to 245 million ringgit (US$58.47 million) through an issuance of Islamic debt. PROPERTY DEVELOPER CONSIDERS ISSUANCE Malaysian property developer Medini Iskandar (MIMSB) is seeking

News Briefs

 

CORPORATE EDRA TO LAUNCH SUKUK BY YEAR-END Independent Malaysian power producer Edra Power, formerly owned by state fund 1MDB, has commenced a roadshow on a potential RM5.28 billion (US$1.25 billion) 20-year Sukuk expected to launch before the end of December 2017. CIMB

News Briefs

 

CORPORATE DAE TO ISSUE SUKUK Dubai Aerospace Enterprise (DAE) is planning to issue Sukuk by June 2018, according to CEO Firoz Tarapore. Although the size of the facility was not specified, Firoz said that the company intends to be a repeat, benchmark

News Briefs

 

CORPORATE DANA GAS SAYS NO TO SUKUKHOLDERS’ PROPOSAL The UAE’s Dana Gas has rejected the proposal of its Sukukholders, which include BlackRock and Goldman Sachs Group, to end the controversy surrounding its US$700 million Sukuk, according to Bloomberg citing unnamed sources who

News Briefs

 

CORPORATE MERAAS REOPENS SUKUK SUBSCRIPTION The UAE’s Meraas Holding on the 14th August priced a US$200 million Sukuk reissuance under its US$400 million Sukuk program sold in May 2017. Under a bond tap, an existing transaction is reopened for subscription using the

News Briefs

 

CORPORATE AL AQAR TO REDEEM SUKUK Malaysia’s Al Aqar Capital intends to partially early redeem its Class C Sukuk issued under its Islamic medium-term notes program worth RM1 billion (US$232.57 million). The one-off early partial redemption is targeted for the 20th July

News Briefs

 

CORPORATE First green Sukuk on the cards Malaysia’s Quantum Solar Park Semenanjung will issue the country’s first green sustainable and responsible investment (SRI) Sukuk this year. The solar power producer, owned by Quantum Solar Park Malaysia, seeks to raise up to RM1

News Briefs

 

CORPORATE Crisis talks for Dana Gas UAE: Dana Gas has started refinancing discussions with the holders of its US$700 million Sukuk maturing in October this year. After failing to receive payments from investments in Egypt and Kurdistan, the company has been plagued

News Briefs

 

CORPORATE Giant deal for Saudi oil firm SAUDI ARABIA: Saudi Aramco has raised SAR11.25 billion (US$3 billion) in its first-ever local currency Sukuk issuance under the SAR37.5 billion (US$10 billion) program. The transaction, aimed at raising funds for the oil company’s revenue