We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Emirates NBD’s Islamic unit eyes 5-year benchmark sukuk

Emirates Islamic issues MS+350 bps area whisper for sukuk; Books open, with pricing slated for this week; First bond issuance out of the Gulf region in 2012


January 9, 2012 12:56 by

Dubai lender Emirates NBD’s Islamic unit, Emirates Islamic Bank, has set an initial price whisper in the area of 350 basis points over midswaps for its five-year, benchmark-sized Islamic bond, or sukuk, lead managers said on Monday.

Books for the trade were now open, with pricing due to take place this week, they added.

Investor meetings are due to conclude in London on Monday, having previously met investors in Malaysia, Singapore and Abu Dhabi.

The potential sharia-compliant transaction is being issued by Emirates Islamic Bank but is backed by its parent company ENBD, the largest bank in Dubai by assets.

Should a bond be issued, it would be the first bond sale out of the Gulf this year.

Others are expected to follow EIB into the market, with Dubai’s Majid al Futtaim Holding one possible name after it released the base prospectus for a $1 billion sukuk programme.

National Bank of Abu Dhabi, HSBC, Standard Chartered, Citi, RBS and ENBD Capital are lead managers on the EIB deal. (Reporting by Rachna Uppal, Writing by David French,; Editing by Dinesh Nair)


Tags: , , , , ,

Leave a Comment