Less Ads, More Data, More Tools Register for FREE

UPDATE 1-Emirates Islamic Bank raises $500 mln via five-year sukuk

Wed, 16th Sep 2020 13:50

(Adds launch, background)

By Yousef Saba

DUBAI, Sept 16 (Reuters) - Emirates Islamic Bank sold $500
million in five-year sukuk, or Islamic bonds, on Wednesday after
receiving around $1.1 billion in orders for the debt sale, a
document showed.

The deal is among a flurry of bond issues by banks in the
Gulf as they seek to shore up liquidity following the twin shock
of the coronavirus crisis and weaker oil prices.

Gulf International Bank sold $500 million in five-year bonds
on Wednesday.

Emirates Islamic Bank's sukuk was priced at 150 basis points
over mid-swaps, some 20 bps tighter from where it began
marketing them earlier on Wednesday, the document from one of
the banks arranging the deal and seen by Reuters showed.

Emirates NBD Capital, HSBC, The Islamic
Corporation for the Development of the Private Sector, and
Standard Chartered arranged the debt sale.
(Reporting by Yousef Saba; Editing by Clarence Fernandez and
Catherine Evans)

Related Shares

More News

Abuja taps StanChart for rail project financing, instead of China Eximbank

(Sharecast News) - Abuja may tap StanChart instead of Chinese lenders for the financing needed to modernise two of the country's main railways.

10 Jun 21 11:16

HSBC names two new co-heads for Asia Pacific business

(Sharecast News) - HSBC has appointed two veteran bankers to manage its operations in Asia-Pacific.

7 Jun 21 12:47

LONDON MARKET CLOSE: FTSE 100 ends green after another US jobs flop

LONDON MARKET CLOSE: FTSE 100 ends green after another US jobs flop

4 Jun 21 17:04

Chapel Down earnings fall but wine sales jump as new fundraise planned

Chapel Down earnings fall but wine sales jump as new fundraise planned

4 Jun 21 11:50

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.