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THE ECONOMY - BONDS

National Bonds website now offers up-to-date financial planning advice

Posted on 23/08/2016

National Bonds, a Sharia-compliant savings and investment company in the UAE, has started providing financial planning tips and tools via its website as part of its continued efforts to spread financial literacy among the UAE population and the wider region. Launched by the Financial Advisory unit at National Bonds, the new financial planning section offers valuable insights and information, in both Arabic and English, to help customers achieve their financial objectives. Topics cover ...  >>MORE

National Bonds’ employee savings programme attracts 83 companies, over 6,000 employees in UAE

Posted on 03/08/2016

In line with its financial well-being initiative, National Bonds Corporation, the leading sharia-compliant savings and investments company in the UAE, recently organised a series of workshops for employers seeking to educate their employees on the benefits of financial planning. National Bonds invited a number of companies from both the public and private sector to learn more about achieving financial independence through adopting a continuous saving habit. Providing participants with an open ...  >>MORE

National Bonds announces high uptake of regular savings programmes with 40,000 account holders topping-up savings in three months

Posted on 05/06/2016

National Bonds Corporation, the leading sharia-compliant savings and investments company in the UAE, has announced the success of its strategy to encourage regular savings in the country as evidenced by the rise in the number of regular savers with National Bonds as well as a greater demand to top up existing accounts. Latest findings from National Bonds indicated that between March 15 and May 19, some 40,000 account holders with National Bonds increased their savings balance to AED 3,000 and ...  >>MORE

Abu Dhabi announces successful issuance of benchmark dual-tranche 5 and 10 years, US$ 5bn bonds

Posted on 11/05/2016

The Emirate of Abu Dhabi yesterday announced that it has successfully issued its benchmark dual-tranche 5 and 10 years, US$ 5bn bonds. Notes due 2021 (the 5-year Bonds) and for the value of US$2.5 billion and notes due 2026 (the 10-year Bonds) for the value of US$ 2.5. The 5-year Bond was priced on 25th April 2016 at a yield of 2.218%, the 10-year Bond with a yield of 3.154% with a spread of 85bps and 125bps respectively, over the relevant US Treasury securities. The bonds were significantly ...  >>MORE

National Bonds Corporation announces 2015 Savings Index for the UAE

Posted on 12/04/2016

DUBAI, 12th April, 2016 (WAM) -- National Bonds Corporation, the leading UAE company specialised in a unique and investment Sharia compliant programme, has released its 2015 Savings Index findings based on a survey conducted among 2,000 respondents in the GCC region. Compiled by Sondos Market Research, the survey aimed to gain feedback on three key areas: financial stability, potential of saving and existence of an enabling saving environment in their respective countries. Out of the total ...  >>MORE

National Bonds investment portfolio registers robust performance in 2014

Posted on 12/03/2015

National Bonds, the sharia-compliant savings and investments schemes provider in the UAE, has announced that its savings and investments products provided up to 4% annual returns to customers in 2014, outpacing the returns provided by other competitive financial institutions in the UAE. Providing a clear analysis for 2014, National Bonds revealed that its One Year Term Bonds offered 2.50% annual returns while the Savings Bonds provided 1.20% annual returns in comparison to other savings ...  >>MORE

Global Sukuk issuances to reach US$145 billion in 2015: experts

Posted on 12/02/2015

The expert panel discussed the marked global growth of the Islamic finance industry, with 2014 having been a particularly notable year, and the increasing demand for Sharia compliant bonds. They agreed that the demand for Sukuk significantly outweighs the supply, with growing investor appetite for more diverse investment opportunities. The panel comprised Michael Bennett, Head of Derivatives and Structured Finance at The World Bank; Gordon Welsh, Head of Aviation at UK Export Finance; Dr. ...  >>MORE

Mubadala GE Capital sells debut bond

Posted on 19/11/2014

Mubadala GE Capital Ltd ., MGEC, has successfully priced its inaugural 144A bond under its newly established Global Medium Term Note Programme. 144A bond, as explained by investopedia, is a Securities and Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. MGEC has said the US$500 million tranche has a tenor of five years and a coupon (interest rate stated on ...  >>MORE

Hong Kong Government to list US$1 billion Sukuk on Nasdaq Dubai

Posted on 13/09/2014

The Government of Hong Kong has announced plans to list its first successful offering of US$1 billion (Dh3.68 billion) Sukuk on Nasdaq Dubai as part of its Government Bond Programme. Commissioned with the implementing the initiative of transforming Dubai into a capital of Islamic finance, Dubai Crown Prince and Chairman of the Executive Council Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum welcomed the decision to list the Hong Kong sukuk on Nasdaq Dubai. "Choosing Nasdaq Dubai as a ...  >>MORE

Government of Sharjah issues debut 10-year Sukuk

Posted on 11/09/2014

The Government of Sharjah yesterday announced the issuance of its debut transaction in the Debt Capital Markets, a US$ 750 million 10-year Sukuk Al Ijara priced at 3.764 per cent. This is not only the Government of Sharjah's first issuance, but also the first time a sovereign has executed a 10-year Sukuk in its debut issuance. Following investor meetings in Singapore, Malaysia, the U.A.E., Saudi Arabia and the UK, the Government communicated initial price thoughts to the market of low to mid ...  >>MORE

Sukuks expected to play important role over next decade: Dubai Chamber

Posted on 03/09/2014

The global Sukuk industry is expected to be one of the fastest growing segments of the Islamic finance industry with huge growth potential in the Gulf Cooperation Council, GCC, region, particularly in Dubai where Sukuks are expected to play an important role over the next decade in securing funds for the substantial line-up of new projects, the Dubai Chamber of Commerce and Industry has said in a report. The observations in the report, based on U.K. Islamic Finance Secretariat (UKIFS) and ...  >>MORE

DP World announces final terms on US$1b convertible bond offering due 2024

Posted on 13/06/2014

DP World Limited on Thursday announced the final terms of its offering of US$1 billion senior unsecured convertible bonds due 2024 and convertible into ordinary shares of DP World. DP World Limited said the bonds will bear interest at an annual rate of 1.75% and the conversion price has been set at US$27.1396, a 37.5% premium over the share price. The net proceeds of the Bonds will be used to take advantage of organic and inorganic growth opportunities, diversify funding sources and general ...  >>MORE

National Bonds records Dh100m sales

Posted on 13/06/2013

National Bonds Corporation, a Sharia-compliant savings and investment programme, today announced bond sales of Dh100 million in the first two weeks following the launch of the new rewards structure. Rolled out on May 1, 2013, the new rewards structure has led to an upsurge in the number of bondholders. In the two weeks following the announcement, and with the introduction of prizes specific to female and minor bondholders, the data indicated a 160 per cent rise of female bondholders, while ...  >>MORE

Nasdaq Dubai welcomes US$1b Emirates NBD bond listing

Posted on 03/06/2013

Nasdaq Dubai on Sunday welcomed the listing of US$1 billion US dollar conventional Tier 1 bond issued by Emirates NBD. The bond is the second to be listed by Emirates NBD on the exchange this year, following a US$750 million US dollar listing by the bank in March. It brings the total value of conventional bonds on Nasdaq Dubai to US$5.75 billion, supporting its rapid growth as a leading listing venue for fixed income securities. "Following the success of our second public bond issue in two ...  >>MORE

Number of women bondholders on rise

Posted on 09/04/2013

While men and women still differ in their attitudes towards money, the fairer sex is catching up to their male peers in the area of financial planning. New data released by National Bonds showed that women in the UAE are becoming increasingly interested in saving and investing, with the number of female bondholders growing by 6.7 per cent in one year. Women traditionally depend on their husband or father not just for financial support, but also for financial planning and investing. But today, ...  >>MORE

NBAD Launches First Kangaroo Bonds

Posted on 01/03/2013

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, yesterday closed its inaugural Kangaroo bond with a coupon rate of 5% and face value of AU$300 million (US$308 Million; Dh1.131 Billion). The final order book was more than four times oversubscribed. "The launch of this landmark transaction reflects NBAD's clear commitment to engage with new investors in new markets and geographies which will help to support the Bank's growth aspirations over the coming years," said ...  >>MORE

NBAD issues first Uridashi bond

Posted on 28/02/2013

The National Bank of Abu Dhabi (NBAD) has launched a 15-year Uridashi bond worth US$16.6 million (Dh 60.1 million), which is the first of its kind from the Middle East and North Africa (MENA) region and allowed NBAD to directly access Japanese retail investors. This issue follows the first ever Samurai bond by a Middle Eastern financial institution which NBAD issued in 2011. Uridashi notes are foreign-denominated bonds sold to retail investors. Being denominated in foreign currencies may ...  >>MORE

ADCB picks five banks for bond issue

Posted on 29/01/2013

Abu Dhabi Commercial Bank, the United Arab Emirates' third largest lender by market value, has picked five banks for a conventional bond issue, two sources familiar with the matter said, tapping into strong investor interest for regional debt. The lender has chosen itself, JP Morgan Chase, ING, Royal Bank of Scotland and Standard Chartered to arrange the offering, the sources said on Monday, speaking on condition of anonymity because the information is not public. ADCB is due to report its ...  >>MORE

Dubai bond sale set to spur credit markets

Posted on 26/01/2013

The ease with which Dubai was able to tap bond markets this week will act as a catalyst for a string of companies looking to raise debt as demand for credit from the region shows little sign of cooling off among international investors. However, analysts warn that Dubai is benefiting as much from investors hungry for returns in markets awash with cheap funding as from a belief in its recovering fundamentals. The US$1.25 billion (Dh4.59bn) sale of bonds and sukuk debt by the Government of ...  >>MORE

Dubai issues Sukuk at $1.25 billion

Posted on 24/01/2013

The Government of Dubai, acting through the Department of Finance, yesterday opened the first issue of the year in the MENA capital markets with a dual-tranche landmark transaction, which has successfully raised $1.25 billion across a 10 year Sukuk and a first ever 30 year conventional issue. The aggregate order book was over twelve times oversubscribed demonstrating tremendous investor appetite. The well-planned and swift intra-day execution took advantage of the positive market environment ...  >>MORE

Gulf bond market forges global links

Posted on 04/09/2012

When Abu Dhabi's biggest bank issued a US$750 million (Dh2.8 billion) bond in August, strong investor demand underlined how well most Gulf banks are riding out the global financial crisis. The issue also sent another signal: that the region's debt market is growing strongly and, increasingly, integrating with overseas markets. The seven-year bond from National Bank of Abu Dhabi, which attracted about US$4.5 billion of orders from investors, was issued in the third week of Ramadan. In past ...  >>MORE

Emaar executes 2nd int'l fixed-income Sukuk offering of US$500m

Posted on 15/07/2012

Emaar Properties PJSC ("Emaar"), rated Ba3/BB, has successfully priced its second international fixed-income Sukuk offering, raising US$500m via the issuance of trust certificates with a maturity of 7 years at a yield of 6.4%. Emaar has successfully executed its first public offering since January 2011 through the issuance of a very well-received US$500m Sukuk. The transaction, which was structured as a Sukuk al-Ijarah and issued through a special purpose vehicle (Emaar Sukuk Limited), ...  >>MORE

UAE feels no pressure to issue bonds

Posted on 20/06/2012

The UAE government will further discuss its plan to introduce a law allowing public debt issues at the federal level, and it feels no pressure to issue bonds despite a budget deficit, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said yesterday. "The law is still under discussion within the government. We are not under pressure to issue any bonds," Al Tayer told Reuters in a brief interview. "We are in no need to finance anything. We will be able to bridge the (budget) ...  >>MORE

Jafz issues US$650m sukuk due 2019

Posted on 14/06/2012

Jebel Ali Free Zone FZE (Jafz) announced it has successfully priced the issuance of US$650m Sukuk Certificates due 2019, marking the company's first US dollar-denominated issuance and its first transaction in the international debt capital markets since 2007. The certificates pay a profit rate to investors of 7 per cent per annum. The proceeds of the sukuk will be used to partly refinance Jafz's outstanding Dh7.5bn sukuk due November 2012, ahead of the stated maturity. Jafz will also ...  >>MORE

Dubai plans US$1b sukuk

Posted on 25/04/2012

Dubai is all set to launch a dual-tranche Islamic bond, or sukuk, to raise at least US$1 billion, the issue arrangers said on Tuesday. The five- and 10-year benchmark sukuk, backed by real estate assets, is Dubai's first Islamic bond since 2009. Initial guidance was seen around five and 6.5 per cent, respectively for the two tranches. The bond proceeds are expected to be used to meet budget deficits and for the refinancing of government debt that has been steadily falling. According to ...  >>MORE

UAE’s National Bonds adds 7,000 customers in Q1

Posted on 10/04/2012

National Bonds has revealed a growing trend of savings among the UAE's youth demographic, with the leading Sharia compliant saving scheme experiencing 12 per cent year-on-year growth in its number of customers below the age of 18, and a 25 per cent increase in the amounts of funds being saved by these customers. National Bonds now has over 100,000 customers under the age of 18, which represents 16 per cent of its diverse customer base, from 120 nationalities. The latest figures from National ...  >>MORE

UAE may become 1st Gulf state to issue yuan bonds

Posted on 21/02/2012

Emirates NBD, the largest bank in the UAE by assets, is likely to be the first bank from the Gulf to issue yuan-denominated bonds amid a growing appetite among global fund managers to tap the nascent market for the so-called "dim sum” bonds. Emirates NBD said on Monday that it has mandated Emirates NBD Capital Limited, HSBC and Standard Chartered Bank to arrange investor meetings in Hong Kong and Singapore ahead of the proposed CNH, or Offshore Chinese Renminbi, denominated bond, under the ...  >>MORE

Abu Dhabi and Qatar bonds draw investors

Posted on 22/08/2011

Global investors are buying up Abu Dhabi and Qatar government debt as a haven against tumbling stock markets, pushing yields on the bonds to historic lows. The trend has been building for weeks now, sending some Gulf government bonds to their lowest-ever yields. The plunge also marks a sharp reversal of high yields seen when the government-owned group Dubai World announced a debt repayment standstill two years ago. Bond yields move inversely to prices. "People are fleeing to safe assets, ...  >>MORE

National Bonds sales rise 29% to Dh1b

Posted on 05/07/2011

National Bonds recorded a 29 per cent growth in sales and achieved its Dh1 billion sales mark early this year, highlighting the increased demand for savings witnessed amongst the UAE population. The saving scheme also recorded a 3.2 per cent growth in its customer base, crossing 630,000 customers, with an almost equal growth in both female and male bondholders. Repeat purchases were also reported to have risen to 78 per cent highlighting the scheme's increased customer loyalty. Growth ...  >>MORE

Dolphin Energy delays US$1.9bn bond

Posted on 29/06/2011

Abu Dhabi's Dolphin Energy Limited, 51 per cent owned by state fund Mubadala, has delayed plans for an immediate bond issue due to market conditions, leads said on Tuesday. Dolphin Energy completed investor meetings for a 144a benchmark dollar bond last week, and was expected to indicate guidance shortly thereafter, but the Eurozone debt crisis and uncertainty surrounding Greece has made investors nervous over any new debt coming onto the market. The bond sale was expected to raise as ...  >>MORE

Government of Dubai successfully issues US Dollar bond for US$500 million

Posted on 19/06/2011

The Government of Dubai, acting through the Department of Finance, announced that it has successfully priced a US$500 million bond. The offering was very well received and was three times oversubscribed. The US$500 million ten-year bond with a put option at the end of 5 years will yield 5.59%. The pricing of the current issue is 1.1% lower than a similar USD 5 year bond issued last year which was then priced at 6.7%. This issuance is part of the updated Euro Medium Term Note Programme, which ...  >>MORE

Dubai plans US$5 billion bond

Posted on 13/06/2011

The Government of Dubai plans to raise up to US$5 billion under a Euro Medium Term Note, or EMTN, programme in a move to bridge its budget deficit and fuel growth. Dubai will use proceeds from the bonds for infrastructure spending and budgetary purposes, the government said in a prospectus distributed by the Regulatory News Service on Sunday. On Sunday, the government announced a series of meetings with potential investors on a benchmark bond offering in London on June 13 and 14. The ...  >>MORE

Emirates closes US dollar bond issue at US$1 billion

Posted on 02/06/2011

Emirates yesterday announced the successful close of its US$ "Reg S" bond issue at USD1 billion. The unrated issue will carry a coupon of 5.125 % p.a. fixed, payable semi-annually. It will have a five-year maturity and will be listed on the London Stock Exchange. "This latest issue from Emirates has received an overwhelmingly positive response from a very wide range of investors, which is indicative of our financial strength. This also shows a high level of confidence in our successful ...  >>MORE

Mubadala launches US$1.5bn bond

Posted on 14/04/2011

Abu Dhabi-owned investment fund Mubadala Development Co on Wednesday launched a dual-tranche US$750 million 5-year and US$750 million 10-year bond, IFR said. Mubadala launched the 5-year bond at 180 basis points over US Treasuries, and the 10-year at 210 basis points over US Treasuries, according to IFR Markets, a Thomson Reuters unit. This compares to price guidance of +185bp and +210bp, respectively. A bond from Mubadala would be the second from a Abu Dhabi entity to tap international ...  >>MORE

Abu Dhabi's TDIC likely to return to debt market

Posted on 14/04/2011

Abu Dhabi's Tourism Development and Investment Company (TDIC) may return to the capital markets in the second half of this year or during the first quarter of 2012 to sell new debt, James Pringle, TDIC's Acting Chief Executive Officer, said on Wednesday. "We are constantly evaluating our funding requirements. Our current cash position is strong. Our liquidity is totally adequate for plans we have announced," Pringle told reporters at a news conference. Pringle, however, declined to comment ...  >>MORE

Dubai investment company takes over National Bonds

Posted on 13/03/2011

Investment Corporation of Dubai (ICD) has taken over National Bonds Corporation, a Sharia-compliant investment scheme that offers monthly prizes. The Dubai Government investment company purchased the 50 per cent of National Bonds it did not already own, ICD announced yesterday. No terms were disclosed. National Bonds sold Dh2 billion (US$545 million) of bonds last year and has 610,000 customers, a 9 per cent increase from 2009, the company said. "Investment Corporation of Dubai's move to ...  >>MORE

US$1billion Ipic bond likely this week

Posted on 09/03/2011

Abu Dhabi's International Petroleum Investment Co. (Ipic) plans a dual-tranche five-year and 10-year benchmark bond issue denominated in euros, sources said on Tuesday, with early price talk indicating a big premium. Four sources, including one at an arranging bank, said that whispers, or very early price indications, on the five-year tranche were in the range of low 200 basis points over midswaps and mid to high 200 basis points over midswaps for the 10-year. This would equate to a yield ...  >>MORE

Aldar to issue Dh3.5 billion mandatory convertible sukuk

Posted on 28/02/2011

Aldar Properties, public joint stock company, approved yesterday the issuance of mandatory convertible sukuk, debentures and/or bonds convertible into shares in the Company in an amount not exceeding Dh3.5 billion, Dh2.8 billion approximately to be issued to Mubadala Development Company at a conversion rate equal to the market share price provided that such conversion price shall not exceed Dh2.3 and shall not be less than 1.75. It shall also be permissible to delay the conversion of any of ...  >>MORE

UAE could issue bond by year-end

Posted on 12/01/2011

The UAE may issue its first sovereign bond toward the end of the year or early next year, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said yesterday. The Federal National Council (FNC) passed a new public debt law last month, paving the way for the country's first debt issues at the federal level. Asked when he expected to issue new bonds, Al Tayer told reporters on the sidelines of an FNC meeting that "either at the end of this year or the first part of next year". Al ...  >>MORE

National Bonds revises incentives

Posted on 21/12/2010

National Bonds, the UAE's prize-linked savings scheme, is changing the way it calculates annual returns to discourage participants from investing for short periods. It hopes the new calculation, being implemented next year, will lengthen holding times. That could help the company manage future cash flow more effectively. Investors can buy and sell their bonds for cash at any time at exchange houses and banks across the country. "This change supports our objective to better reward the ...  >>MORE

ADIB raises 750 million dollars in sukuks

Posted on 01/11/2010

Abu Dhabi Islamic Bank (ADIB) announced on Sunday US$750 million issue of five-year sukuk Islamic bonds, the first since 2006, rated A2 by Moody's and A+ by Fitch with a stable outlook from both. ADIB said in a statement that the issue was oversubscribed by nearly 4.8 times, adding the demand highlights confidence in the bank. Tirad Mahmoud, ADIB's chief executive officer, said, "I am delighted that ADIB's return to the international capital markets was supported by extremely strong ...  >>MORE

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Quick List

National Bonds website now offers up-to-date financial planning advice


National Bonds’ employee savings programme attracts 83 companies, over 6,000 employees in UAE


National Bonds announces high uptake of regular savings programmes with 40,000 account holders topping-up savings in three months


Abu Dhabi announces successful issuance of benchmark dual-tranche 5 and 10 years, US$ 5bn bonds


National Bonds Corporation announces 2015 Savings Index for the UAE


National Bonds investment portfolio registers robust performance in 2014


Global Sukuk issuances to reach US$145 billion in 2015: experts


Mubadala GE Capital sells debut bond


Hong Kong Government to list US$1 billion Sukuk on Nasdaq Dubai


Government of Sharjah issues debut 10-year Sukuk


Sukuks expected to play important role over next decade: Dubai Chamber


DP World announces final terms on US$1b convertible bond offering due 2024


National Bonds records Dh100m sales


Nasdaq Dubai welcomes US$1b Emirates NBD bond listing


Number of women bondholders on rise


NBAD Launches First Kangaroo Bonds


NBAD issues first Uridashi bond


ADCB picks five banks for bond issue


Dubai bond sale set to spur credit markets


Dubai issues Sukuk at $1.25 billion


Gulf bond market forges global links


Emaar executes 2nd int'l fixed-income Sukuk offering of US$500m


UAE feels no pressure to issue bonds


Jafz issues US$650m sukuk due 2019


Dubai plans US$1b sukuk


UAE’s National Bonds adds 7,000 customers in Q1


UAE may become 1st Gulf state to issue yuan bonds


Abu Dhabi and Qatar bonds draw investors


National Bonds sales rise 29% to Dh1b


Dolphin Energy delays US$1.9bn bond


Government of Dubai successfully issues US Dollar bond for US$500 million


Dubai plans US$5 billion bond


Emirates closes US dollar bond issue at US$1 billion


Mubadala launches US$1.5bn bond


Abu Dhabi's TDIC likely to return to debt market


Dubai investment company takes over National Bonds


US$1billion Ipic bond likely this week


Aldar to issue Dh3.5 billion mandatory convertible sukuk


UAE could issue bond by year-end


National Bonds revises incentives


ADIB raises 750 million dollars in sukuks