Saudi Arabia's National Industrialisation Company (Tasnee) will begin meeting investors next week ahead of a potential debut Islamic bond, or sukuk, the petrochemicals firm said in a regulatory filing.
HSBC's Saudi Arabian unit has been selected to organise the roadshows, which could lead to a privately-placed transaction.
A number of Saudi entities have priced their first local currency sukuk this year as interest in the country's debt market grows on the back of high investor liquidity and a desire to diversify funding sources away from bank loans.
The largest of these was a 15 billion riyals ($4bn) trade from the General Authority for Civil Aviation in January.
Dairy firm Almarai and AJIL Financial Services Company completed deals worth 1bn riyals and 500 million riyals in March and April, respectively.
NBAD Issues $465m convertible bonds
The National Bank of Abu Dhabi (NBAD) has issued $465m senior unsecured convertible bonds, convertible into ordinary shares of NBAD.
The offering, due in 2018, was increased from an initial
Markaz profits reach KD2.56m in Q1 2013
Kuwait Financial Centre (Markaz) announced a net profit of KD2.56m for the first quarter ending 31st March 2013, a net profit of 5 fils per share as compared with a net profit of KD2.82 during the sa
Arabtec wins $108m Saudi hospital contract
A subsidiary of Dubai-based contractor Arabtec Holding has won a SR404-million ($107.7 million) contract to build a hospital in Saudi Arabia, the company said in a statement on Saturday.
KFH-Research: Participation banks growing rapidly in Turkey
KFH-Research issued a report stating that participation banks (Islamic banks) in Turkey form 5.2% of banking assets and will reach 10% by 2018, since those banks surpass the rest of the banking secto
ADS Securities signs MoU with Asian conglomerate Tune Group
In a landmark strategic alliance, ADS Securities, the Abu Dhabi-based brokerage and financial services trading company signed a Memorandum of Understanding (MOU) with Asian conglomerate Tune Group th