Credit Agricole

lydubai in sukuk talks

Low-cost carrier flydubai is in talks with its advisers for a potential bond issuance. Earlier reports citing unnamed sources, Dubai’s low cost airline had mandated seven banks — Credit Agricole, Dubai Islamic Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi, Noor Bank and Standard Chartered — to arrange a potential debut sukuk issue

New York financial regulator investigates European banks Turkish family dealings

The New York Department of Financial Services (DFS) has asked half a dozen European banks to submit their official records pertaining to their financial dealings with Turkey's Uzan family. The six banks covered by the order are France based BNP Paribas, Societe Generale and Credit Agricole; Commerzbank and Deutsche Bank of Germany and Standard Chartered. The state banking regulator is investigating the case over the illegal business dealings with Uzans. Standard Chartered assured its full co-operation with the regulators, while representatives of the other European banks either declined to comment or did not respond to requests for comment.

Banque Saudi Fransi Sets Up $2 Billion Islamic Bond Program

Banque Saudi Fransi arranged a $2 billion Islamic bond program as part of the Riyadh-based lender’s plans to mix up its sources of financing.
Islamic bond sales in Saudi Arabia, the world’s largest oil exporter, progressed to a record $6.55 billion so far this year as the government’s spending plan encourages companies to raise funds to invest.
Lead arrangers of the program were Citigroup Inc. (C), Credit Agricole, Deutsche Bank AG (DBK).

Saudi Aramco, Total ink $1b Sukuk for Jubail JV

Saudi Aramco and France's Total will launch $1 billion Islamic bond (Sukuk) in the Q4 to build 400,000 barrels per day crude refinery in Jubail.
Simon Eedle, global head of Islamic banking at Credit Agricole, said the long delayed $1 billion Sukuk which was part of the financing for the Jubail refinery will launch in the Q4. Credit Agricole, Deutsche Bank and Samba Financial Group are the lead arrangers for the Sukuk.
Global Islamic bonds are poised to extend gains after climbing to a record this week, buoyed by Asian economic growth and a pickup in Gulf issuance.
Gulf sales of Sukuk, which pay asset returns, are rising after Dubai World reached an agreement with creditors last month to change terms on $24.9 billion of debt. Companies in the region plan to issue about $5.8 billion of Islamic debt in the fourth quarter, the most for the period in three years.

Syndicate content