04.03.2009 - How Islamic bond refinancing will work
From Iflr.com: Companies in the Gulf have unique challenges in liability management and nowhere near enough short-term Islamic instruments, reveals a Congress in Doha. As companies everywhere struggle to refinance their bonds, Islamic issuers are finding they have peculiar advantages and disadvantages. The spread on bonds in the Gulf has widened dramatically in the past six months. The swap margin on DP World's 10-year bond from 2007, for example, has widened from 250 basis points to over 900. It was issued at 100 basis points. .... Full Article: Source