Middle East 2012 Bond Sales to Surpass 2011, Morgan Stanley Says
According to Morgan Stanley & Co., Middle East and North Africa foreign bond sales from this year will surpass last year’s $27.6 billion because borrowers need to pay loans and will increasingly choose bonds.
It seems that International bond sales from the Middle East and North Africa fell 17% in 2011 from $33.1 billion in the previous year.
Bloomberg states that borrowers in the Middle East and North Africa have gathered $1.3 billion from three issues this year, all of them sales of sukuk by financial institutions.
Tamweel PJSC raised $300 million from five-year Islamic bond Jan. 12, while Emirates Islamic Bank PJSC sold $500 million in five-year Islamic bonds Jan. 10.
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