Tuesday, June 09, 2009

Bahrain sukuk increased to $750 million, pricing at 350 bps over 5-year Treasuries; other news

Bahrain increased the size of its dollar-denominated $500 million sukuk to $750 million and it is expected to be priced at 350 basis points above US Treasuries of similar five-year maturities. The managing director of Dubai-based Algebra Capital which invested in the sukuk was disappointed at the pricing of the sukuk commenting that "It would have been better had they left some juice in there to attract a wider audience". An article describes the impact of the sukuk and also provides a summary of the other developments in the sukuk market including sukuk funds and the CBB recurring sukuk al-salam and al-ijara issuances, which have seen greater oversubscription recently.

Other News

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