Arab Today, arab today gcc bonds sukuk issuances in first half total 567bn
Last Updated : GMT 10:54:50
Arab Today, arab today
Arab Today, arab today

GCC bonds, sukuk issuances in first half total $56.7bn

Arab Today, arab today

Arab Today, arab today GCC bonds, sukuk issuances in first half total $56.7bn

Al-Markaz financial centre
Kuwait - KUNA

The aggregate primary issuance of bonds and sukuk in the Gulf Cooperation Council (GCC) member states totaled USD 56.71 billion in H1 2014, a 24.71 percent increase from the total amount raised in H1 2013, a specialized economic report showed Sunday.
The report, by Al-Markaz Financial Center, stated that June was the most active month in terms of both the amount raised and the number of issuances. A total of USD 15.55 billion was raised during the month through 44 issues.
Central Bank Local Issuances (CBLI) are debt securities issued by GCC central banks in local currencies and maturities of less than one year, to regulate the levels of domestic liquidity.
The figures unveiled that a total of USD 32.14 billion was raised by the central banks of Kuwait, Bahrain, Qatar, and Oman during H1 2014.
The report stated that during H1 2014, the Central Bank of Qatar (CBQ) surpassed the Central Bank of Kuwait (CBK) as the top issuer, in contrast to the previous years, by issuing the largest amount amongst GCC central banks.
"CBQ raised USD 14.29 billion through 25 issues, representing 44.48 percent of the total CBLI amount. The CBK raised USD 13.29 billion through 37 issues, an increase of 7.87 percent from USD 12.32 billion raised through 34 issuances in H1 2013," read the report.
The GCC bonds market is composed of sovereign and corporate bonds and sukuk issuances denominated in local and foreign currencies.
"A total of USD 24.57 billion was raised by Sovereign and Corporate bond and sukuk issuances in H1 2014, an increase of 2.09 percent from the total value raised in H1 2013," the report disclosed.
I added that issuances by UAE entities raised the largest amount in H1 2014, representing 59.88 percent of the total amount, or USD 14.71 billion, and were the most active in terms of issuance frequency with 54 issuances.
"Saudi Arabian entities raised the second highest amount, USD 7.35 billion, while Qatari entities raised USD 1.18 billion. Kuwait Projects Company (KIPCO) was the sole corporate issuer from Kuwait, raising USD 500 million through a conventional bond," added the report.
With regard to the type of issuance, the report noted that corporate issuances dominated the majority of the amount raised, with USD23.82 billion or 96.95 percent of the total amount raised.
"Sovereign issuances raised USD 750 million represented by a single issuance from Government of Dubai. UAE corporate entities were the leading corporate issuers in GCC during H1 2014 in terms of value, raising USD 13.96 billion through 53 issues followed by Saudi Arabian corporate entities, which raised USD 7.35 billion through nine new issues." Conventional issuances raised USD 18.02 billion, or 73.34 percent of the total amount raised in GCC bonds and sukuk market during H1 2014, said the report, adding that "this was a substantial increase of 44.31 percent as compared to H1 2013. Sukuk issuance totaled USD 6.55 billion in H1 2014." Al-Markaz unveiled that as of June 30, 2014, the total amount outstanding of corporate and sovereign bonds issued by GCC entities was USD 245.47 billion.
"Corporate issuances make up the majority of the total amount outstanding with USD195.46 billion, or 79.6 percent of the total amount. Sukuk represented 34.6 percent of the total amount outstanding.
"Of the amount outstanding as of 30 June 2014, USD115.80 billion, or 47.2 percent, were issued by UAE entities. Bonds and sukuk by Kuwaiti entities represented USD4.65 billion, or 1.9 percent of the total amount outstanding," it concluded.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc bonds sukuk issuances in first half total 567bn Arab Today, arab today gcc bonds sukuk issuances in first half total 567bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gcc bonds sukuk issuances in first half total 567bn Arab Today, arab today gcc bonds sukuk issuances in first half total 567bn

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday