Ukrainian and Dubai credits break their silence

July 16, 2008 12:00 AM

UkrSibbank and Tamweel yesterday pierced the eerie quiet pervading the European and Middle Eastern emerging bond markets, but, as neither is a typical EM borrower, little can be interpreted from these deals about the prospects for other issuers. UkrSibbank, 51% owned by BNP Paribas, yesterday priced its $250m 9.25% three year Eurobond, and Tamweel priced a Dh1.1bn five-year issue through Badr Al Islami, Dubai Islamic Bank and Standard Chartered Bank. Could this be it for new issuance until the end of the summer? Read EuroWeek on Friday to find out.

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