Latest news with #ImogenLillywhite
Zawya
14-05-2025
- Business
- Zawya
Kuwait's Warba Bank's AT1 sukuk price tightens to 6.25%
Kuwait's Warba Bank has priced its $250 million AT1 sukuk at 6.25%, tighter than the original price guidance of around 6.5%. The perpetual non-call 5.5 year sukuk will have a benchmark yield of 4.148% with a reoffer yield of 6.250%. (Writing by Imogen Lillywhite; editing by Daniel Luiz)
Zawya
13-05-2025
- Business
- Zawya
Warba Bank $250 mln AT1 sukuk price guidance at 6.5%
Price guidance for Kuwait's part state-owned Warba Bank $250 million AT1 capital sukuk offering is at the 6.5% area. The Reg S category 2 5.5 year listing will list on Nasdaq Dubai and London Stock Exchange's International Securities Market, with issuance expected 20th May. (Writing by Imogen Lillywhite; editing by Daniel Luiz)
Zawya
12-05-2025
- Business
- Zawya
Dubai penal court clears Salama former vice chair and MD of charges
A penal court in Dubai has cleared the former vice chairman and MD of Dubai-listed insurer Salama of embezzlement of company funds and damaging the interests of the company. The court ruled that Salama was unable to prove allegations against the accused, and they were therefore acquitted, a statement from legal representatives said. The defendants were acquitted in October 2024, and while the complainant appealed, that appeal has been rejected this year. (Writing by Imogen Lillywhite; editing by Seban Scaria)
Zawya
29-04-2025
- Business
- Zawya
Abu Dhabi sovereign ADQ mandates USD 5-year and 10-year benchmarks
Abu Dhabi sovereign ADQ is to issue US dollar benchmark five and 10 year-dual tranche senior unsecured notes with initial price thoughts in the UST + 115 and UST 125 areas respectively. The sovereign, which holds a number of key Abu Dhabi Government assets including Abu Dhabi Securities Exchange (ADX), Etihad Airways and Etihad Rail in its portfolio, has released investor information for the benchmark senior unsecured 144A Reg S notes, which will be used for general corporate purposes. The listing will be on London Stock Exchange (LSE) under ADQ's global medium term note programme, which was launched in in 2024 with a $2.5 billion issuance on LSE. Settlement is scheduled for 6th May. ADQ, known as Abu Dhabi Development Holding Company until 2020, is rated Aa2 by Moody's and AA with stable outlook by Fitch. (Writing by Imogen Lillywhite; editing by Seban Scaria)
Zawya
29-04-2025
- Business
- Zawya
DP World to hold investor calls for 10-year US dollar sukuk
DP World will hold investor calls for the potential issuance of a 10-year 144A Reg S US dollar benchmark sukuk on Tuesday. The issuer is DP World Crescent Limited, which has $5.5 billion in sukuk issued, with maturity beginning in 2028, according to LSEG data, and the obligor is DP World Limited. DP World, one of the largest logistics, marine and container terminal operators in the world, is owned by Government of Dubai and is rated Baa2 (stable) by Moody's and BBB+ (stable) by Fitch. The latest issuance, to be listed on London Stock Exchange and Nasdaq Dubai, will be under the DP World's $7.5 million trust certificate issuance programme and will be a manafae structure, with the proceeds to be used for general corporate purposes. Joint bookrunners are ADCB, Citi, Deutsche Bank, DIB, Emirates NBD, FAB, HSBC, JP Morgan, Mashreq, Soiciete Generale and Standard Chartered Bank. (Writing by Imogen Lillywhite; editing by Seban Scaria)
