Rasameel Structured Finance provides an overview of the current market, with a review of notable issuances since the start of 2014.
Rasameel state issuance in Q1 2014 was USD$31.4bln which represents a dip from Q1 2013 of USD$34.53bln, as well as when compared to Q1 2012 when a record USD$40.53bln was issued. The dip is attributed to the tapering of QE in the U.S and the absence of GCC Sukuk issuers.
Rasameel record the total global sukuk outstanding at USD$272.96bln representing a 15.96 year on year increase from Q1 2013.
The report ends with an outlook for 2014; in which Rasameel expect the global primary market to once more exceed the USD100bln mark and looks forward to debuts from sovereigns including the United Kingdom, Luxembourg, South Africa, Tunisia, Mauritania, Senegal and Oman, as well as a debut issuance from the Asian Development Bank (ADB). In the corporate sector Rasameel are expecting issuances in Australia, Ireland, Russia, Thailand as well as France.
Download the report here.