Latest news with #EuronextDublin
Zawya
3 days ago
- Business
- Zawya
Kuwaiti lender Boubyan prices $500mln 5-year sukuk
Kuwait's Boubyan Bank priced its $500 million senior unsecured Reg S 5-year sukuk at 4.973% with fixed, semi-annual, 30/360 coupon. The books came in at $1.7 billion, excluding JLM interest. Earlier, the Kuwaiti lender had a spread set at CT5+95bps, with the initial price guidance in the area of T+130bps. The issuance is rated A by Fitch, in line with the lender's rating by Fitch and S&P, and A2 by Moody's. The maturity date is June 4, 2030. Banks mandated include Standard Chartered, HSBC, and Citi Bank, which have been appointed global coordinators on the issuance. Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, KIB Invest, Dubai Islamic Bank, SMBC Bank International, The Islamic Corporation for the Development of the Private Sector, along with Standard Chartered, HSBC, and Citi Bank have been appointed joint lead managers. The structure comes under Boubyan's $3 billion Trust Certificate Issuance Programme and will trade on Euronext Dublin. (Writing by Bindu Rai, editing by Daniel Luiz)
Zawya
3 days ago
- Business
- Zawya
Kuwait's Boubyan Bank launches $500mln senior unsecured 5-year sukuk
Kuwait's Boubyan Bank has launched its $500 million senior unsecured Reg S 5-year sukuk, with a spread set at CT5+95bps. The initial price guidance came in the area of T+130bps. The order book is $1.7 billion, excluding JLM interest. The issuance is rated A by Fitch, in line with the lender's rating by Fitch and S&P, and A2 by Moody's. The Wakala / Murabaha structure has a fixed rate coupon, paid semi-annually. The settlement date is June 4. Banks mandated include Standard Chartered, HSBC, and Citi Bank, which have been appointed global coordinators on the issuance. Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, KIB Invest, Dubai Islamic Bank, SMBC Bank International, The Islamic Corporation for the Development of the Private Sector, along with Standard Chartered, HSBC, and Citi Bank have been appointed joint lead managers. The structure will be issued under Boubyan's $3 billion Trust Certificate Issuance Programme and will trade on Euronext Dublin. (Writing by Bindu Rai, editing by Seban Scaria)
Zawya
5 days ago
- Business
- Zawya
Kuwait's Boubyan Bank issues mandate for USD senior unsecured 5-year sukuk
Kuwait's Boubyan Bank is looking to raise funds as it issues a mandate for a dollar-denominated senior unsecured 5-year sukuk, with a fixed rate coupon, paid semi-annually. The issuance is rated A by Fitch, in line with the lender's rating by Fitch and S&P, and A2 by Moody's. Banks tapped include Standard Chartered, HSBC, and Citi Bank, which have been appointed global coordinators on the issuance. Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, KIB Invest, Dubai Islamic Bank, SMBC Bank International, The Islamic Corporation for the Development of the Private Sector, along with Standard Chartered, HSBC, and Citi Bank have been appointed joint lead managers. The Wakala / Murabaha structure will be issued under Boubyan's $3 billion Trust Certificate Issuance Programme and will trade on Euronext Dublin. Boubyan said the issuance will have a positive impact on its liquidity position and diversifying the sources of long-term funding. In March 2022, the lender, which is 59.9% owned by National Bank of Kuwait, issued a $500 million 5-year sukuk in a deal that was less than two times covered. More recently, Boubyan Bank was involved in merger talks with Kuwait's Gulf Bank, which was called off in January of this year following the disclosure that a major shareholder, Alghanim Trading, would divest its entire 32.7% stake in Gulf Bank to Kuwait's Warba Bank. (Writing by Bindu Rai, editing by Seban Scaria)
Irish Independent
6 days ago
- Business
- Irish Independent
Stock markets rebound after latest Donald Trump tariff U-turn
The picture was much the same across Europe after Mr Trump said he would extend a deadline for talks into July. Markets in London and New York were closed for a long weekend. The Stoxx Europe 600 Index gained 1pc. In Ireland, the Euronext Dublin was up slightly less, with the Iseq 20 index of leading Irish shares gaining 0.92pc, with broad gains across sectors. The rebound came after stocks fell in Europe on Friday when Mr Trump threatened a shock 50pc levy on the EU starting June 1. He had complained that the EU lacked urgency in trade talks and unfairly targeting American companies with lawsuits and regulations. The rebound on Monday came after he agreed to push the deadline for a deal to July 9 following a phone call with European Commission president Ursula von der Leyen. "This is nothing more than the usual 'threat and retreat' that has been the modus operandi of this tariff tennis we have witnessed since the start of the year," said Florian Ielpo, head of macro research at Lombard Odier Investment Managers. "European valuations outperforming in this context and the EUR progressing vis-a-vis the dollar are yet more signs that European stocks continue to look attractive in this high-uncertainty environment." The EU had been slated for a 20pc tariff under the reciprocal rates announced in April, and a temporary pause took the rate down to 10pc through July 9. Ensuing expectations for a trade deal lifted sentiment, with the Stoxx 600 bouncing 18pc from an April low through its recent high last week. Cyclical stocks had a sharp rally. "'Less bad news' has been lifting valuations, but now we need 'more good news' to fuel this rally – good news on both the fiscal front and the growth front," said Mr Ielpo. Among individual movers, Thyssenkrupp AG advanced 8.3pc after it said it planned to become a strategic holding company with independent business segments.
Irish Examiner
20-05-2025
- Business
- Irish Examiner
Euronext seeks stamp duty exemption on share trades
Stock exchange Euronext Dublin is seeking an exemption to the stamp duty paid when trading shares in companies worth less than €1bn to attract retail investors into the Irish market. This measure was just one of four the exchange has made to the Government in its recent pre-budget submission. Ireland currently applies a 1% stamp duty on the trading of shares, which Euronext said was 'disproportionately higher than in other European states'. Euronext Dublin is proposing a stamp duty exemption on the trading of shares in companies with a market valuation of less than €1bn, an increase the lifetime limit for Capital Gains Tax Entrepreneur Relief by a further €1m to a total of €2m, and the establishment an Irish equity market growth fund to provide equity finance to companies listed, or intending to list, on Irish markets. It is also seeking an incentivised savings and investment account scheme for Ireland, offering savers an equity-focused product while creating a new source of finance for scaling enterprises listed on public markets. Euronext Dublin chief executive Daryl Byrne said there was a recognition in the programme for government of the potential of Irish equity capital markets 'to support the financing of indigenous enterprise'. 'Ireland may have been missing a trick in not supporting more Irish enterprises to access private capital by way of public markets, evidenced by the small number of initial public offerings in Ireland over the past decade,' he said. 'At the same time, unlike other EU countries, Ireland lacks ways for retail investors to access equity products. This represents both a serious market failure and a worrying missed opportunity for Ireland.' Read More EU Commission warns Ireland's deep economic ties with the US pose a notable risk
