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GCC markets withstand global and regional turmoil

The Middle East debt capital markets have, on the face of it, had a tough time since the onset of the global financial crisis with both imported and home-grown problems. The Dubai World episode of late 2009 focused attention on the region as never before – and for all the wrong reasons. And then political upheaval in the wider region in the winter and spring and 2011 delivered another setback. Yet, even amid the turmoil, the region’s top issuers have prospered. IPIC in early 2011 delivered a groundbreaking euro and sterling dual tranche bond and Mubadala found size and liquidity in dollars, while the syndicated loan market has provided ever-keener pricing for leading corporates. In this roundtable discussion, which took place in late April in Dubai, Middle East debt specialists discuss the key issues and take stock of the borrowing landscape today.

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