18.11.2011 - S&P:Rising debt maturities in the Gulf pose refinancing risks
Industry experts estimate bonds and sukuk of about $25 billion will mature in 2012, rising to about $35 billion in 2014. Standard & Poor's believes the region is therefore entering a challenging loan and bond refinancing cycle, especially given the ongoing volatility in capital markets and fears that slowing global economic growth is already curbing corporate debt issuance and heightening refinancing risk in the region. Nonetheless, we note some renewed interest in Islamic financing of infrastructure companies and assets, exemplified by the Abu Dhabi National Energy Co.'s recent proposed Malaysian ringgit (MYR) 3.5 billion medium-term sukuk note program.............................................Full Article: Source
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