DUBAI, June 7 (Reuters) - Following are major Islamic bond issues in the global pipeline.
The Thomson Reuters Global Sukuk Index is at 118.04136 points, down from 118.42537 at the end of last month but up from 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 116.78976 against 117.32893 at end-May and 113.69014 at end-2014.
CAGAMAS - Malaysian mortgage lender Cagamas still hopes to issue sukuk this year off a $2.5 billion multi-currency programme set up last November, but foreign exchange volatility is hampering any issue in U.S. dollars, the most likely option, its chief executive told Reuters in early June.
BARWA BANK - Shareholders of Qatar's Barwa Bank approved plans for a $2 billion senior unsecured sukuk programme that could be issued in various currencies, the lender said in early June.
DRAKE & SCULL - Dubai's Drake & Scull mandated five banks to arrange a series of fixed income investor meetings starting on June 4 for a potential issue of perpetual U.S. dollar sukuk.
BAHRI - Saudi Arabia's Capital Market Authority granted approval to National Shipping Company of Saudi Arabia (Bahri) to issue sukuk, the regulator said on June 1. Bahri plans to complete a debut Islamic bond offer worth up to 3.9 billion riyals ($1.04 billion) this quarter, the company's vice chief executive officer for finance Mohammad Alotaibi said earlier.
TURKEY - The Turkish Treasury said in late May it would issue local currency sukuk in August with volume of 1.5 billion lira ($563 million).
BINLADIN - Saudi Binladin Group began marketing a 364-day sukuk issue to local investors in the kingdom which could raise up to 1 billion riyals, sources aware of the matter said at the end of May.
ABU DHABI ISLAMIC BANK - Abu Dhabi Islamic Bank will ask shareholders on June 21 to approve an increase in the size of its Tier 1 sukuk programme to $3 billion from $2 billion, it said.
ADIRA DINAMIKA - Indonesian leasing company Adira Dinamika Multi Finance is expected to launch a dual-tranche bond at end-May, bankers said. It aims to sell bonds worth 2.5 trillion rupiah ($190 million), split into a 2 trillion rupiah conventional portion and a 500 billion rupiah sukuk portion.
OMAN - Oman plans to sell its first sovereign Islamic bond, an issue of 200 million rials ($520 million) of sukuk, through a private placement and will launch subscriptions soon, an Omani official was quoted as saying in mid-May by the Times of Oman.
AEON CREDIT - Malaysia's Aeon Credit Service said in mid-May it planned to raise 1 billion ringgit ($276.6 million) via sukuk murabaha for working capital, repayment of debt and financing for customers.
NAJRAN CEMENT - Saudi Arabia's Najran Cement planned to meet fixed income investors starting on May 10 for a riyal-denominated sukuk issue, it said.
EGYPT - Egyptian Finance Minister Hany Kadry Dimian said at the end of April that he hoped to issue ijara-structured sukuk, the country's first sovereign sukuk issue, at the beginning of the 2015/2016 fiscal year starting in July.
KUVEYT TURK - Kuveyt Turk, Kuwait Finance House's Turkish unit, said in late April it had applied to the Capital Markets Board for permission to issue up to 1 billion lira ($376 million) of sukuk.
IVORY COAST - Ivory Coast will sell its debut sukuk in the next two to three months, and is assessing whether to make sukuk issues a regular part of fund raising, its minister for economy and finance said in late April.
CIMB - CIMB Group Holdings, Malaysia's second largest bank by assets, plans to establish a new 6 billion ringgit conventional and Islamic bond programme, a regulatory filing by RAM Ratings said in late April. A CIMB official confirmed the details.
TELEKOM MALAYSIA - Telekom Malaysia set up in late April a $750 million, multi-currency sukuk programme that may see the state-owned company return to global markets after a long absence.
KUALA LUMPUR KEPONG - Malaysian plantation company Kuala Lumpur Kepong will raise up to 1.6 billion ringgit from Islamic bonds, rating agency RAM Ratings said in mid-April.
BNI SYARIAH - PT Bank BNI Syariah, the Islamic subsidiary of state lender PT Bank Negara Indonesia, plans to issue sukuk mudaraba with a three-year tenor worth up to 750 billion rupiah in an offer on May 18 and 19, the Jakarta Post quoted CEO Dinno Indiano as saying in mid-April.
JORDAN - Jordan chose the Islamic Corporation for the Development of the Private Sector to support its debut sovereign issue of sukuk, the ICD said in mid-April; the dinar-denominated issue is expected this year and would be used to absorb excess liquidity held by Jordan's Islamic banks, which is estimated to total 1.4 billion dinars ($2 billion).
AXIS REIT - Malaysia's Axis REIT said in early April that it had expanded its sukuk programme to 3.0 billion ringgit from 300 million ringgit, and extended the length to perpetual from 15 years.
TALIWORKS - Malaysia's Taliworks Corp announced in early April that the Securities Commission had authorised its proposed issuance of 210 million ringgit worth of sukuk murabaha, Bernama news agency reported.
KAZAKHSTAN - Kazakhstan's Finance Ministry is expected soon to propose a draft law allowing its first sovereign sukuk issue, which will probably take place early next year, Yerlan Baidaulet, an adviser to the Investments and Development Ministry, told Reuters in early April.
SENEGAL - Senegalese President Macky Sall said in early April that he had asked the Islamic Development Bank to help his country conduct a second sovereign sukuk issue. He gave no details.
OMANTEL - Oman Telecommunications
For more Reuters Islamic finance stories, type in ISLF, enter > For more Reuters sukuk stories, type in SUK, enter > For all Reuters content on Islamic finance, click on > For a diary of Islamic finance events, click on > For a glossary of Islamic finance terms, click on (Compiled by Andrew Torchia)