Gulf issuers endure increased volatility to stay in market
Gulf corporates Ooredoo, Nogaholding and Arabian Centres sprung into the bond market this week, defying revived market volatility to raise dollar funding. The string of corporate issuance follows a similar streak from the region’s FIG issuers last week.
Qatari telecommunications company Ooredoo (A2/A-/A-) entered the market on Wednesday for a conventional Reg S/144A senior unsecured 10 year dollar bond.
By Wednesday morning, initial price thoughts on the April 2031 tranche reached 130bp over mid-swaps.Ooredoo, previously known as Qtel and majority-owned by the state of Qatar, mandated ...