Recovery extends to Middle East as Mumtalakat goes for benchmark

June 23, 2010 12:00 am

The primary market recovery in EM took another step this week, through government owned Bahrain Mumtalakat. The single-A rated borrower is expected to sell a $750m bond on Wednesday in a further sign of the market gaining confidence in emerging market borrowers, after Russia’s Mobile TeleSystems opened the door last week. Turn to EuroWeek on Friday for analysis of what the deal means for other EM borrowers eyeing issues.

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