Jan 27 2013
|more articles from|
Barwa Bank chosen to co-lead manage Dubai sukuk issue
Barwa Bank has opened the year in the debt capital markets in the same manner as in 2012, being chosen for the second time as co-lead manager by Government of Dubai, for what is "one of the most sought after credits" in the Middle East and North Africa (Mena) region.
Barwa Bank CEO Steve Troop said: "We are extremely proud to have been selected again as co-lead manager by the Government of Dubai. Having the opportunity to be associated for the second time with a transaction of such significance indicates our credibility, strong regional relationships and delivery, as well as access to liquidity.
Khalid Mahdi al-Ahbabi, Barwa Bank AGM and head (wholesale banking) said: "The issuance was extremely successful with Dubai also being able to simultaneously print a 30 year conventional bond. The 3.875% yield paid on the 10-year Sukuk clearly demonstrates the high volumes of liquidity in the sukuk space and Dubai's strongly improving risk perception."
© Gulf Times 2013
© Copyright Zawya. All Rights Reserved.