Blowout Gulf issuance sparks markets amid oil slump, but rocky outlook remains

By Mariam Meskin
08 Apr 2020

The State of Qatar and the Emirate of Abu Dhabi looked to sell bonds this week in the wake of extreme oil price volatility that has left commodity exporters with fragile fiscal positions.

Abu Dhabi, Aa2/AA/AA, was in the market as GlobalCapital went to press, looking to raise $5bn-$10bn via arrangers Bank of America, Citi, JP Morgan, HSBC and Standard Chartered. Books for the deal had reached $25bn before the New York open, according to a banker on the trade.

The emirate ...

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