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Article: Islamic Bond Sales may Reach Record on Gulf Demand.
- Article from:
- Khaleej Times (Dubai, United Arab Emirates)
- Article date:
- April 1, 2009
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Summary: DUBAI - Islamic bond sales may rebound and reach a record this year, with the Gulf accounting for about two-thirds of the debt issued as higher yields attract investors, NCB Capital said.
There is an estimated 'pipeline' of about $39.3 billion of so-called sukuk, Jarmo Kotilaine, chief economist at Saudi Arabia's NCB Capital, said in a report received on Monday. He estimates the pipeline from the Gulf Cooperation Council to be $24.6 billion.
"GCC sukuks, which have also faced a sell-off in recent months, are currently trading at attractive yields," Kotilaine wrote in the GCC Debt Capital Markets report. "Sukuks have the potential to capitalise ...