News

Kuwait Finance House issues $3bn sukuk

Kuwait Finance HouseKuwait’s second biggest lender, Kuwait Finance House (KFH), is planning its biggest ever play in the Islamic finance market with the issue of a $3 billion Islamic bonds programme. According to the prospectus, the certificates have been given a provisional A1 rating by Moody’s and will be issued by a special purpose vehicle based in the Dubai International Finance Centre. The transaction will be jointly arranged by KFH Capital Investment Company and Standard Chartered Bank. No date or initial size for issuance has been specified as yet. The programme will cater for issuance in multiple currencies including the Chinese renminbi. It will employ a hybrid structure that combines two sharia-compliant contracts, wakala and murabaha, in a bid for increased trade convenience. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

Roundtables

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.