Latest news with #StandardChartered
Zawya
2 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
2 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)
Daily Mail
2 days ago
- Business
- Daily Mail
Bank shares rise after US court ruling on Trump's trade tariffs
Shares in major banks and finance firms rose on Thursday after a US court ruling on Donald Trump's trade tariffs. A US federal court has blocked Trump's sweeping tariffs, in a major blow to a key component of his economic policies. The Court of International Trade ruled that an emergency law invoked by the White House did not give the president unilateral authority to impose tariffs on nearly every country. Minutes after the ruling, the Trump administration said it would lodge an appeal. On Thursday, Barclays shares were up 1.27 per cent or 4.10p to 328.05p, while HSBC shares rose 1.46 per cent or 12.60p to 878.00p, having climbed 28 per cent in the last year. Prudential shares were up 1.66 per cent or 13.80p to 847.00p, while Standard Chartered shares increased 2.68 per cent or 30.50p to 1,170.50p. Lloyds Banking Group shares rose 1.04 per cent or 0.80p to 77.42p, having risen over 40 per cent in the last year. Richard Hunter, head of markets at Interactive Investor, told This is Money: 'It remains to be seen whether the ruling will hold water after the inevitable challenge to come from the White House. 'Even so, the unanimous ruling sets the scene for a potential tariff reversal. 'If so, and the global economy were to reset to pre-Trump levels, this would particularly benefit those companies with an exposure to China, Standard Chartered and indeed Prudential are among the biggest FTSE 100 risers today, and even those with a US interest like Barclays since the possibility of recession would recede. 'Lloyds and NatWest are also rallying although less strongly, with the UK being less of a tariff target but with a UK/US trade deal already penned.' Barclays, HSBC and Standard Chartered suffered sizeable share price losses during the fallout following the announcement of Trump's various levies. HSBC, Barclays and Standard Chartered each have exposure to the geopolitical climate and suffered share price downturns during the fallout of Trump's levies. HSBC is one of the largest international banks in Asia, while Standard Chartered's focus heavily on emerging markets across Asia, Africa and the Middle East. In April, Standard Chartered's shares fell 7 per cent, while HSBC and Barclays shares fell 5 per cent and 4 per cent respectively. Meanwhile, banks like Barclays can be affected by geopolitical movements due to its large investment bank operations. Trump's retreat on his trade offensive has helped fuel a recovery for London markets but his focus on tariffs on Asian goods and services remains a sticking point for certain banks. The British and US trade deal was put in place to reduce the impact of the tariffs the US president had imposed. It remain unclear how last night's ruling could affect the deal. Scott Gallacher, a director at Rowley Turton, told Newspage: 'The court's ruling to block and unwind Trump's tariffs will hopefully undo much of the damage his trade war did to markets and investment values. 'Expect a relief rally in emerging markets, global industrials, and commodities — the very sectors that suffered during the tariff era. 'Meanwhile, safe havens like gold and Treasuries could retreat, and previously protected US industries may feel the squeeze. In short: the Trump trade war trade is unwinding — fast.' Russ Mould, investment director at AJ Bell, said: 'For the court to determine that President Trump didn't have the authority to impose the 'Liberation Day' tariffs is a pretty seismic development. 'That the gains were measured rather than blockbuster reflects a healthy level of scepticism over whether this can truly rein in the Trump administration, which has already launched an appeal against the judgement.' He added: 'The problem for investors is it could prolong uncertainty even if, ultimately, it results in a better outcome from a market perspective. 'It also exacerbates the issue of how the big tax cuts being brought forward in the US will be funded – given revenue from tariffs was supposed to help on this front. 'The first thing to watch is whether or not the administration's appeal against the decision is successful. 'The news has given global financial markets an undoubted lift though, with strong results and a bullish outlook from AI chipmaker Nvidia also positive for sentiment. 'In London, stocks and investment trusts with exposure to the US moved higher. The bond market though continues to flash a warning signal with yields on sovereign debt moving higher amid a weak auction for 40-year Japanese government debt at the start of this week.'
Irish Times
2 days ago
- Business
- Irish Times
Marlet secures €238m refinancing deal for College Square development
Developer Pat Crean's Marlet Property Group and its partner M&G Investments have secured a €238 million refinancing facility with Standard Chartered for College Square, the landmark office scheme they have developed in Dublin city centre. Standard Chartered acted as sole underwriter, mandated lead arranger, and hedging bank for the transaction, which is understood to have been completed late on Wednesday night. It qualifies as a Green Loan under the Green Loan Principles due to College Square being one of the most sustainable buildings in Ireland, having achieved LEED Platinum Certification and targeting WiredScore Platinum and A3 BER ratings. Commenting on the deal, Marlet's CEO Pat Crean said: 'We are delighted to have closed our first financing facility with Standard Chartered. This new facility brings us through the next chapter of the College Square development while Workday completes preparations to occupy the building and our PRS platform, DUBLIV, completes the leasing of the residential units.' READ MORE Ronan O'Dowd, global head of commercial real estate at Standard Chartered said: 'This green loan financing facility underscores our commitment to backing transformative developments that deliver long-term value for communities, investors, and the city itself.' News of the refinancing deal comes just seven weeks after Marlet and M&G completed a deal with US technology giant Workday for some 38,648 sq m (416,000 sq ft) of the office space at College Square. The company's accommodation represents the entirety of College Square's 'super-prime' office space and is the equivalent of five and a half football pitches. The College Square deal is the largest single office letting to have taken place in the European office market since 2021. The US enterprise technology giant's decision to base its operations there was first revealed by The Irish Times in August of last year. Developed on sites occupied formerly by Apollo House and the neighbouring College House, College Square is a major mixed-use scheme comprising a total of 50,170 sq m (540,000 sq ft) of LEED Platinum office accommodation and 1,580 sq m (17,000 sq ft) of retail space distributed over 10 floors. The development has an overall height of 22 storeys owing to the inclusion of 58 high-end apartments on 12 floors above the office element of the scheme.
Finextra
3 days ago
- Business
- Finextra
Standard Chartered and OKX launch collateral mirroring programme
Standard Chartered and OKX, a leading cryptocurrency exchange and global onchain technology company, today announced the launch of a ground-breaking, world-leading collateral mirroring programme, enabling institutional clients to utilise cryptocurrencies and tokenised money market funds as off-exchange collateral for trading. 0 This initiative significantly enhances security and capital efficiency for institutional clients by using a Globally Systemically Important Bank (G-SIB) as the custodian for their collateral. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered said: 'We understand the critical importance of robust and secure custody solutions, especially in the evolving digital asset landscape, and our collaboration with OKX to enable the use of cryptocurrencies and tokenised money market funds as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need. By leveraging our established custody infrastructure, we are ensuring the highest standards of security and regulatory compliance, fostering greater trust in the digital asset ecosystem.' The collateral mirroring capability has been launched as a Pilot within the Dubai Virtual Asset Regulatory Authority's (VARA) regulatory framework, and it allows clients to benefit from enhanced protection against counterparty risk, a significant concern in the current digital asset markets. Standard Chartered acts as the independent, regulated custodian in the Dubai International Financial Centre (DIFC), regulated by the Dubai Financial Services Authority, ensuring the safe storage of the assets used as collateral, while OKX through its VARA regulated entity, manages collateral and facilitates transactions. Franklin Templeton will be the first in a series of money market funds that will be offered under the OKX-SCB programme. Hong Fang, President of OKX, said: 'As the digital assets ecosystem becomes more ingrained within traditional finance, we strive to both drive growth and safeguard client assets in the most capital efficient manner. By leveraging Standard Chartered's position as a top custodian globally, as well as OKX's market leadership in cryptocurrency trading, the partnership sets an industry standard for current and potential institutional clients to deploy trading capital at scale in a trusted environment.' Franklin Templeton, a recognised leader in tokenisation and real world assets (RWA), continues to innovate by leveraging blockchain technology to deliver cutting-edge solutions to customers and clients. Through this collaboration, OKX clients will gain access to on-chain assets developed by Franklin Templeton's Digital Assets Team, seamlessly integrating them into their financial and operational structures. Roger Bayston, Franklin Templeton Head of Digital Assets, says: 'Leveraging blockchain technology, our platform is built to support the dynamic and ever-evolving financial ecosystem. We take an authentic approach, from directly investing in blockchain assets to developing innovative solutions with our in-house team. By ensuring assets are minted on-chain, we enable true ownership, allowing them to move and settle at blockchain speed - eliminating the need for traditional infrastructure.' Brevan Howard Digital, the dedicated crypto and digital asset division of Brevan Howard, a leading global alternative investment manager, is among the first few institutions to onboard onto this pioneering programme, highlighting the importance of such capabilities being offered by a leading international cross-border bank and a highly reputable global exchange. Ryan Taylor, Group Head of Compliance at Brevan Howard and CAO of Brevan Howard Digital, commented: 'This programme is the latest example of the continued innovation and institutionalisation of the industry. As a significant investor in the digital assets space, we are thrilled to partner with industry leaders to further grow and evolve the crypto ecosystem globally.'
