A whole new world for GCC sov funding as oil ticks up

Middle East Fotolia 230x150
By Virginia Furness
23 Feb 2017

GCC sovereign issuance began in earnest this week with Bahrain raising $600m and Oman mandating banks for a triple tranche deal. As Virginia Furness reports, the two deals mark the beginning of what will be a defining year for the region’s borrowers in the international capital markets.

Like 2016, GCC sovereign supply is expected to reach $40bn this year. At first blush, regional issuers should have few problems raising this amount — markets are in much better shape than last year, with the price of oil now ...

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