Bond Report 1Q12-v2 - Zawya

zawya.com

Bond Report 1Q12-v2 - Zawya

Sukuk Quarterly Bulletin

Issue 17 - 1Q2013

Global sukuk issuance in 1Q13 scored USD31bn, a decrease of 29.82% over 1Q12

Malaysia accounted for 63% of global issuance by value, MENA 27%, Indonesia 10%

Ringgit-denominated issues topped the charts by value with 78% of total issuance worth USD24bn

Turkey issues totaled USD1.1bn, including the second lira-denominated treasury sukuk

Government institutions dominated with 69 issues worth USD19.3bn

Global Sukuk Issues ($m) 1Q13 vs 1Q12

Yearly Comparison ($m)

Other

MENA

35,000!

60,000!

MENA!

Other!

30,000!

25,000!

20,000!

15,000!

10,000!

34,983!

23,396!

50,000!

40,000!

30,000!

20,000!

17,002!

34,983!

23,396!

5,000!

0!

8,633!

7,211!

1Q12! 1Q13!

10,000!

0!

6,567!

10,689! 8,633! 7,211!

625!

1Q10! 1Q11! 1Q12! 1Q13!

Global Sukuk Issues by Size ($m) & No of Deals

Global Sukuk Trends ($m) - By Quarter

20,000!

15,000!

10,000!

5,000!

Capital Raised! # of Deals!

11,607!

10,464!

8,561!

January! February! March!

100!

90!

80!

70!

60!

50!

40!

30!

20!

10!

0!

45,000!

40,000!

35,000!

30,000!

25,000!

20,000!

15,000!

10,000!

5,000!

0!

43,616!

8,633!

25,735!

Global!

41,006!

5,492! 5,993!

MENA!

29,660!

4,412!

30,608!

7,211!

1Q12! 2Q12! 3Q12! 4Q12! 1Q13!

1


Sukuk Quarterly Bulletin Issue 17 - 1Q 2013

Global Sukuk Issues by Sector ($m) - 1Q13

Global Sukuk Issues by Sector - 1Q13

Global Sukuk Issues by Currency ($m) - 1Q13

Global Sukuk Issues by Currency - 1Q13

Other! 221!

Construction! 574!

Food and Beverages! 756!

Agriculture! 922!

Transport! 1,343!

Financial Services! 2,075!

Power and Utilities!

5,365!

Governmental Institutions!

19,352!

0! 5,000! 10,000! 15,000! 20,000!

Mn$!

GMD!

AED!

BND!

BHD!

PKR!

TRY!

SAR!

IDR!

USD!

MYR!

9!

66!

162!

302!

437!

852!

1,093!

2,181!

6,800!

18,705!

0! 5,000! 10,000! 15,000! 20,000!

Mn$!

Global Sukuk Issues by Country ($m) - 1Q13

Global Sukuk Issues by Country - 1Q13

Global Sukuk Issues by Structure ($m) - 1Q13

Gambia! 9!

Murabaha-Musharaka!

China! 99!

Al Salaam!

Brunei Darussalam! 162!

Bahrain! 302!

Modarabah-Murabaha!

Pakistan! 437!

Al-Istithmar!

Turkey! 1,102!

Musharaka!

Indonesia! 2,181!

Wakala!

Saudi Arabia!

3,093!

Modarabah!

UAE!

3,816!

19,406!

Ijarah!

Malaysia!

Murabaha!

132!

153!

347!

400!

425!

1,009!

1,124!

8,807!

18,211!

0! 5,000! 10,000! 15,000! 20,000!

0! 2,000! 4,000! 6,000! 8,000! 10,000!12,000!14,000!16,000!18,000!20,000!

Mn$!

Mn$!

Global Sukuk Issues by Market Type ($m)

Global Sukuk Issues by Issuer Type ($m)

International

6,800

22% Corporate

Domestic

23,828

78%

9,642

32%

Sovereign

19,405

63%

Quasi Sovereign

1,560

5%

MENA Sukuk versus Conventional Bonds* ($m)

Global Sukuk Issues by Exchange Listing ($m)

25,000!

20,000!

Sukuk ($Mn)!

Bonds ($Mn)!

,##(

+%#(

!"#$%&%'(

Nasdaq Dubai!

Indonesia SE!

15,000!

Irish SE!

10,000!

,',&,$-(

Bursa Malaysia!

Singapore SE!

5,000!

0!

1Q12! 2Q12! 3Q12! 4Q12! 1Q13!

)"!%#(

)"$$*&*+(

Dubai FM!

2


Sukuk Quarterly Bulletin Issue 17 - 1Q 2013

Top 10 Issues**

Sukuk Name

Structure

Country

Currency

Subsc. Date

Mn$

Indonesia Retail Sukuk

Saudi Electricity Global Sukuk II

Emirates Airline Sukuk II

DEWA Sukuk 2018

DIB Tier 1 Sukuk

Turkey Treasury Sukuk 18-02-2015

Dubai DOF Sukuk(2023)

Bank Negara IDM Sukuk

GIS Sukuk (26-03-2013)

Sime Darby Global Sukuk

Ijarah

Ijarah

Wakala

Ijarah

Modarabah

Ijarah

Ijarah

Murabaha

Ijarah

Ijarah

Indonesia

Saudi Arabia

UAE

UAE

UAE

Turkey

UAE

Malaysia

Pakistan

Malaysia

IDR

USD

USD

USD

USD

TYR

USD

MYR

PKR

MYR

Feb-13

Mar-13

Mar-13

Feb-13

Mar-13

Fen-13

Jan-13

Jan-13

Mar-13

Jan-13

1,548

1,000

1,000

1,000

1,000

856

750

663

437

400

Global Sukuk Pipeline

Sukuk Name

Country

Currency

Subsc. Date

Type

Sharjah Islamic Bank Sukuk III

YAAS MTN Sukuk

IILM Sukuk

Investment Corporation of Dubai Sukuk

Al-Aqar Capital Sukuk II

UAE

Kuwait

Malaysia

UAE

Malaysia

USD

KWD

MYR

USD

MYR

2013

2013

2013

2013

2013

Corporate

Corporate

Quasi Sovereign

Quasi Sovereign

Corporate

Top 5 Lead Managers (Excluding Central Banks)

Lead Manager

Number of Issues

Size

Market Share %

Maybank (Aseambankers)

HSBC Bank Middle East

Standard Chartered Bank

Deutsche Bank

Citigroup Global Markets Limited

46

51

12

4

5

2,410

2,079

1,374

1,066

960

31%

26%

17%

14%

12%

Important Notes:

Figures included in this bulletin are correct as of 11 April 2013

*Source for Bonds: Zawya Bonds Monitor www.zawya.com/bonds, Covering bonds of 1-year tenor and above

** Top Issues count top issue by unique issuer

Prepared by Abir Atamech, abir.atamech@zawya.com

For more information, please contact sukuk@zawya.com

Copyright Zawya 2013

3

More magazines by this user
Similar magazines