Abu Dhabi’s IPIC slips in, all other eyes on Saudi

09 Mar 2011

Saudi Arabia is the hot topic this week as analysts and investors wait to see how much support Friday’s planned ‘day of rage’ attracts from the population. There is uncertainty about how successful King Abdullah’s $36bn package of financial and unemployment benefit will be in quelling potential unrest.

Investors are differentiating between credits in the Middle East and North Africa. Concerns over protests in Saudi Arabia have not tainted borrowers from the United Arab Emirates. Abu Dhabi’s International Petroleum Investment Co (IPIC) has set guidance on a 15 year sterling bond at 275bp over gilts.

Its ...

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