Standard Chartered

Tamweel hire banks for likely bond sales

Tamweel hired banks for a possible bond sale as it looking for financing to repay liabilities and increase lending. The shares presented a jumprecord in a month.
Citigroup, Standard Chartered and Dubai Islamic Bank will make appointments for investor meetings in Asia, Europe and the United Arab Emirates.
Tamweel plans to raise at least $300 million to $500 million from Islamic bond sale in the fourth quarter.

Abu Dhabi Islamic Bank up on sale roadshow

It seems that Abu Dhabi Islamic Bank (Adib) rose the most in three months, as the country's second-biggest Sharia-compliant lender continued with its roadshow to sell a $500 million five-year sukuk.
The sale will be oragnized by Citigroup, HSBC Holdings, Standard Chartered, Nomura and National Bank of Abu Dhabi.

Al Hilal eyes $500m sukuk in Q1 2012

Al Hilal Bank has chosen three banks to arrange its debut sukuk. The deal is forseen to emerge in the first quarter of 2012.
Standard Chartered, HSBC and National Bank of Abu Dhabi have been assigned by unlisted Al Hilal for a benchmark-sized deal under a bond programme which could be worth up to $3 billion.

First Turkish Sukuk under new regulations

This is the first Turkish Sukuk under the new Sukuk regulations presented by the Capital Markets Board in Turkey to facilitate Turkish Sukuk issuance.
The joint lead managers were HSBC, Standard Chartered, Liquidity Management House, Abu Dhabi Islamic Bank and Commerzbank, and HSBC was seen as certificateholders’ representative on the issue of a $350 million (EUR 247 million) five-year Sukuk by Turkish participation bank Kuveyt Türk Kat?l?m Bankasi.

UAE Sukuk market review

Zawya Investor lists 64 UAE domiciled Sukuk going back to the $100m Tabreed Sukuk issued in March 2004. Forty-six of these have been issued, with 17 Sukuk that have already reached maturity.
There are also six Sukuk that have been announced, but not yet issued, with the last one offering on the slab being the proposed Majid Al Futtaim Sukuk, which would partially or wholly replace a cancelled $2bn conventional issue slated earlier this year, but ultimately canned due to inopportune market conditions. Majid Al Futtaim stated that it had authorized Standard Chartered and HSBC to help arrange and place the issue.

Bahrain hires international banks for $1 Billion sukuk sale

The banks that will advise the sukuk sale of Bahrain are: Citigroup, BNP Paribas and Standard Chartered. This is chasing Bahrain's government raising the public debt ceiling by BD1bn ($2.65bn) to BD3.5bn.


UAE's FGB picks banks for roadshows ahead of potential sukuk

Abu Dhabi's First Gulf Bank has authorized Citi , HSBC and Standard Chartered to arrange investors meetings starting July 21 after which the lender could launch sukuk.

ACWA Power signs US$300 million inaugural Corporate Murabaha Facility

ACWA Power International announced the implementation of its inaugural corporate credit facility structured on Murabaha basis ("Facility"). Standard Chartered was co-ordinator for the facility. The Facility is appreciated at up to US$300 million.
Besides the fact that it is the maiden medium term murabaha facility at the corporate level, the fact that it is secured by its own balance sheet without any shareholder credit supports is a testament to the confidence in ACWA Power's capability, capacity and credit standing.

Standard Chartered to expand consumer, Islamic banking in Pakistan

In order to grow its business in Pakistan, Standard Chartered plans to focus on expanding its consumer banking line as well as its Islamic banking portfolio. this statement was given by the bank’s Pakistan head, Mohsin Nathani.
Nathani also revealed that the bank plans on expanding its credit card and personal loans portfolio in addition to expanding the number of products on offer to its retail customers.

Islamic Development Bank plans dollar bond

Islamic Development Bank (IDB) is going to issue a benchmark dollar-denominated Islamic bond. So far they have limited to government-linked and high-rated bonds.
Arrangers are : BNP Paribas, HSBC, Standard Chartered and Deutsche Bank.

Dubai sovereign wealth fund ICD agrees US$2.8 billion loan

Dubai's ICD sovereign wealth fund has launched its largest loan since its financial crisis, containing a US$2.8 billion, five-year loan refinancing.
The leaders of an Islamic tranche will be: Dubai Islamic Bank and Standard Chartered, while Citigroup, Emirates Bank and HSBC Bank have been appointed to co-ordinate a conventional tranche.

A narrowing yield gap may aid sukuk Yield on Abu Dhabi's

In the oppinion of National Bank of Abu Dhabi and EFG-Hermes UAE Ltd, Abu Dhabi may find it cheaper to borrow with Islamic bonds than non-Sharia compliant securities.
Abu Dhabi government officials will meet fixed-income investors in Beijing, Hong Kong and Singapore. Standard Chartered is arranging the meetings and the sit-downs with investors aren't related to an immediate transaction.

Scheme launched for young adults to get 100% financing for new home

Young working adults can now buy themselves a new home without having to pay anything in down payment.
The My First Home Scheme is launched by Prime Minister Datuk Seri Najib Tun Razak and will enable them to buy houses costing between RM100,000 and RM220,000 with a repayment period of up to 30 years. The scheme sees the participation of 25 conventional and Islamic financial institutions including major banks like AmBank, CIMB, Hong Leong, Maybank, Public Bank, RHB and Standard Chartered.

France in focus for Al Baraka in 2011

Al Baraka Banking Group has confirmed its plans to open in France, saying it will open up five branches in metropolitan France from 2011.
Press reports in France claim that Al Baraka Chief Executive Adnan Yousif confirmed the bank's intentions to establish a presence in the country. The news that Al Baraka Banking Group plans to set up in France follows two years of activity by the French authorities aimed at attracting Islamic banking institutions.
Al Baraka has selected Deutsche Bank and Standard Chartered as advisers.

Crisis and opportunity

Afghanistan seems like a country which is tailor-made for Islamic finance, but it still doesn't have a single Islamic bank. However, moves are afoot to bring it to the country. Afghanistan has rarely been out of the news over the past nine years, as around 40 countries have been endeavouring to turn the country from one of the poorest to something more stable and prosperous. The economy, after years of desperate hardship has been growing at around 10 per cent a year, admittedly from a very low base.
The banking system has been created virtually from scratch and the Central Bank of Afghanistan or Da Afghanistan Bank (DAB), as it is better known, is at the forefront of the change, although the transformation not has been without its challenges.
The country has 17 (mostly private) banks including a number of foreign banks such as Standard Chartered, Punjab National Bank, National Bank of Pakistan, Habib Bank (also from Pakistan) and Bank Alfalah.


Tabreed names banks for Sukuk issuance

Business 24/7 reported on 13 April that National Central Cooling Co (Tabreed) has mandated Morgan Stanley, Standard Chartered and National Bank of Abu Dhabi as lead managers for its planned USD 300-500 mn convertible Sukuk due by 2011.


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