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- Gulf Bank hosts tufting, embroidery workshop for red cardholders
- Bahrain All Share Index marks 1,946.89 points
- Bahrain sees robust pipeline of financial institutions: 16 new financial institutions licensed, 52 in progress
- Qatar Insurance company issues USD 500 million Tier II Bond
- 'Results of QSE listed companies to have positive impact on performance'
- Businesses in Japan opt to renovate aging facilities, not build new ones
- MPHC restructures partnership for salt production facility in Qatar
- Dubai school operator Taaleem moves closer to Dh1 billion in 2024-25 revenue
- Saudi Arabia Pledges $25 Bln Investment to Support Africa
- Gamezop to set up regional headquarters in Bahrain
25/05/2016 05:29 AST
Dubai-based Noor Bank has launched a $500 million capital-boosting sukuk issue of five years duration that will price later on Tuesday, a document from lead managers showed.
Pricing for the transaction, which has a perpetual tenor and an option for the Islamic bank to redeem the paper after five years, has been set at 6.25 per cent, according to the document.
This is well inside the guidance of the 6.5 per cent area which was given late on Monday, which itself was inside initial pricing thoughts.
Order books closed in excess of $1 billion for the deal, which will enhance the sharia-compliant bank's Tier 1, or core, capital.
Noor Bank, rated A- by Fitch Ratings, last week named Citi and Standard Chartered as joint global coordinators, with those banks plus Dubai Islamic Bank, Emirates NBD Capital, First Gulf Bank, Noor Bank and Sharjah Islamic Bank acting as joint lead managers for the issue.
Emirates 24|7
30/05/2016
Noor Bank has successfully priced its debut perpetual $500 million Tier 1 capital issuance.In the midst of multiple regional issuers on the road looking to raise capital market funding, Noor Bank was
The Gulf Today
25/04/2016
Noor Bank on Sunday announced its financial results for the year ending 31 December 2015, with the bank reporting a net operating profit of Dhs561 million. The increase in profitability was fuelled
The Gulf Today
19/11/2015
Dubai's Shariah-compliant Noor Bank posted a net profit of Dh451 million for the nine months ended September 30, 2015, an increase of 43 per cent from the same period last year.
Earnings w
Emirates 24|7
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04/07/2025
In line with its ongoing commitment to enriching the youth experience, Gulf Bank recently organized a creative workshop on tufting and embroidery arts for its red cardholders, in collaboration with t
Kuwait Times
04/07/2025
Qatar Insurance Company Q.P.S.C. (QIC) announced that it has successfully issued a USD 500 million subordinated perpetual Tier II capital bond with a fixed coupon of 6.15%.
The issuance was
Gulf Times
04/07/2025
Mesaieed Petrochemical Holding Company (MPHC) is pleased to announce a significant update following our previous announcement on 23rd September 2024. The parties has reached a mutual agreement for th
The Peninsula
04/07/2025
The Dubai headquartered school operator Taaleem is moving closer to generating revenues of over Dh1 billion for its current financial year. In the first nine months, the company's cleared revenues of
Gulfnews
04/07/2025
Americana Restaurants International, a leading quick-service and casual dining operator across the Mena region and Kazakhstan, has signed an exclusive franchise agreement with carpo - a premium Greek
Trade Arabia
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