An online Muslim photo & wallpapers. Islamic wallpapers, latest news & updates.
Islamic Wallpapers
natutre_wallpaper_by _islamic_wallpaper
natutre_wallpaper_by _islamic_wallpaper
Allah Wallpaper
Filed under: Latest News — admin     1:56 pm May 26, 2011

“This transaction is important because it sets a benchmark yield for IDB risk,” said Rizwan H. Kanji, a debt capital markets partner with the Middle East and Islamic finance practice of King & Spalding in Dubai, United Arab Emirates. “It also is expected to help re-energize the Sukuk market after a period of relatively low issuance of Sukuk.”

King & Spalding advised the IDB on the $750 million benchmark Sukuk which has been dual-listed on the London Stock Exchange and Bursa Malaysia. The joint lead managers on the transaction were BNP Paribas, Deutsche Bank A.G. (London branch), HSBC and Standard Chartered Bank.

The issue followed an IDB Road Show to Asia, Middle East and Europe. On the conclusion of the Road Show, Dr. Abdul Aziz Al-Hinai, IDB Vice President Finance said, “We are delighted with the outcome of the deal, which achieved our main objectives for the transaction to build on the success of last year’s deal to establish another liquid benchmark and further position IDB in line with its Supranational peer group. I am particularly happy to see a number of new accounts come into an IDB trade for the first time, and would like to thank the lead managers for delivering a deal that met all our objectives.”

The road show kicked off in UAE and reached London where the bank successfully priced the $750 million, five-year, Trust Certificates (Sukuk) issued at par with a 2.35 per cent semi-annual profit rate under the IDB’s $3.5 billion Trust Certificate Issuance Programme.

IDB’s AAA ratings, strong financial position and relative insulation from regional events made a compelling story for investors who participated strongly in the book. The issue saw strong participation from the Asia and the MENA region with good interest from European and US offshore investors. In terms of allocation, the distribution was well diversified with 53 per cent allocated to MENA, 26 per cent to Asia, 16 per cent and five per cent to Europe and Americas, respectively.

Overall the deal saw strong participation from real money accounts and official institutions providing credence to IDB’s credit strength. In addition, the deal also saw first time participation from other supranational institutions. 48 per cent was allocated to central banks/official institutions, followed by 33 per cent allocation to banks, 15 per cent to fund managers and four per cent to retail investors.

Source : CPI Financial

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

Islamic Wallpapers
We are Hiring
Join Community, Make Friends
Latest News
Urdu News
Hindi News
Kalima Shahada mentioned in Quran
Stories of Sahabah
Popular Quran Quotes
Random 40 Hadith
Modern Muslim Women & Challenges
Marriage & family in Islam
Muslim Women World
Health, Beauty and Islam
Latest Posts
Muslim Women Rights In Islam
Random Photo
Bookmark and Share
Sponsored Links
  1. Surat Web Design
  2. Web Desgin Company
  3. kolkata Web Design Company
Most Popular Video
Facebook Like
Recent Comment
About Muslim Wallpapers
Islamic Blog provides information about latest Islamic News and updates. The website also contains large number of Islamic wallpapers and photos. You can also get here Islamic knowledge. We have also collected information about latest and relevant Islamic subjects. Apart from this you can find glittering stories off Sahabah.
Copyright © 2003-2010 All Rights Reserved.