Despite its reputation as a heavy emitter of greenhouse gasses, Indonesia’s green sukuk was hailed as a game changer for both Islamic and ESG investing. Luky Alfirman, Director General of Budget Financing and Risk Management, Ministry of Finance in Indonesia believes its inaugural transaction in February is the first of many to come as the government looks to double down on its commitment to climate change mitigation.
Mohammed Khnifer, Senior Associate, Debt Capital Markets at the Islamic Corporation for the Development of the Private Sector (ICD), spoke to Bonds & Loans about Saudi Arabia’s real estate sector, the upcoming inclusion of Saudi debt in the JP Morgan indices, and the development of regulation within the country.
The outlook for GCC credit remains buoyant through the remainder of the year despite a brief lull through the summer months. Still, deeper and more frequent questions about the structural challenges faced by many of the GCC economies suggest more uncertainty lies ahead in the longer term, according to bankers, borrowers, investors and economists who spoke with Bonds & Loans on a recent research trip to the region.
This year’s Bonds, Loans & Sukuk Middle East Awards saw no shortage of firsts as the regions borrowers and finance professionals pushed the boundaries of the possible through new structures and techniques in a range of transactions.
The Omani electricity company SPV placed the first ever corporate sukuk from the country with an elegant legal structure that helped navigate regulatory obstacles.
Dubai Aerospace Enterprise (DAE) has signed a landmark unsecured four-year dual-tranche revolving credit facility with an initial commitment of USD480mn and an accordion feature that allows the facility to be increased to up to USD800mn. The deal was one of the largest conventional/Islamic transactions in the region.
Hamid Butt, Head of Investment Banking at Noorbank sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about why sukuk is gaining mainstream acceptance from investors from outside the GCC.
Usman Ahmed, Managing Director at Emirates NBD Asset Management sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the growth of the asset management segment in the GCC.
Martin Egan, Vice Chairman of Global Markets at BNP Paribas sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the GCC debt capital markets pipeline, the delicate balance between oil price and regional volatility for investors, and potential replacements for LIBOR.
Malaysia is currently in the midst of significant political change, and the country’s borrowers seem optimistic about the renewed urgency around fiscal reform. We speak with Andy Leong Chain Hong, CFO of SkyWorld Development Group, a leading property developer in Malaysia, about the direction of the economy following the country’s landmark elections, and discuss the company’s pioneering Musharakah sukuk.
- Dar Al-Arkan CFO: “We are facing 4 years of clear skies to use our operational cash flow”
- Off the Record: Issuers, Investors Upbeat on Sovereign Sukuk Prospects
- Maybank Islamic Banking Chief: “Projected global sukuk demand outstrips supply”
- Case Study: Indonesia Serves Up Benchmark-Setting Green Sukuk
- GCC Corporates Adapt to New Normal – but Hopes for Bond Market Revolution Could be Dashed
11 Dec 2018