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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).

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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CORPORATE New issuance for Edgenta MALAYSIA: Asset solutions firm UEM Edgenta has proposed the issuance of Islamic commercial papers (ICPs) and Islamic medium-term notes with a combined aggregate limit of up to RM1 billion (US$225.05 million). Utilities firm issues agency bond MALAYSIA:

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CORPORATE Digi to raise US$1.1 billion MALAYSIA: Mobile operator Digi plans to raise RM5 billion (US$1.12 billion) in Sukuk to pay for network upgrades. The funds will be raised through an Islamic 15-year medium-term notes program of up to RM5 billion as

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News briefs CORPORATE Islamic home financing for prestigious Dubai projects UAE: Marina Arcade has partnered with Emirates Islamic for the provision of home financing packages for the Marina Arcade Tower, a freehold residential development in Dubai Marina. Jumeirah Golf Estates has also

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News briefs CORPORATE Islamic home financing for prestigious Dubai projects UAE: Marina Arcade has partnered with Emirates Islamic for the provision of home financing packages for the Marina Arcade Tower, a freehold residential development in Dubai Marina. Jumeirah Golf Estates has also

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News briefs CORPORATE Islamic home financing for prestigious Dubai projects UAE: Marina Arcade has partnered with Emirates Islamic for the provision of home financing packages for the Marina Arcade Tower, a freehold residential development in Dubai Marina. Jumeirah Golf Estates has also

News Briefs

 
News briefs CORPORATE Islamic home financing for prestigious Dubai projects UAE: Marina Arcade has partnered with Emirates Islamic for the provision of home financing packages for the Marina Arcade Tower, a freehold residential development in Dubai Marina. Jumeirah Golf Estates has also

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News briefs CORPORATE Steel firm raises OTC Islamic certificates IRAN: Mobarakeh Steel Company, Iran’s largest steelmaker, has raised IRR1 trillion (US$33.2 million) from the sale of Sukuk. The certificates pay a 20% profit rate per annum at quarterly intervals, and were sold

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News briefs CORPORATE Conglomerate launches inaugural dual tranche issuance OMAN: Mohammed Al Barwani Holdings has successfully issued US$76 million in Sukuk, completing on the 29th June and representing the first dual tranche (OMR and US$) Sukuk issuance in Oman. The transaction is