Middle East Bonds
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Kuwait joins PP party -
The Iran war has led to a flurry of private trades from the Gulf
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Even if ceasefire succeeds, investors will still want a risk premium
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Funding costs and new issue premiums are much higher than GCC issuers are used to
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Senior banker will move to Abu Dhabi to take up position
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Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
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Higher prices and concessions mean many issuers will wait for better days
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Borrowers from the Gulf region have a track record of remarkable primary market prints
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Asian buyers are sensitive to geopolitical turmoil in the Middle East, but they do return
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◆ Hyperscaler sets new standard for European corporate bond market ◆ What it will it take to get a bank to issue in euros again ◆ Iran war could reshape ultra-competitive Gulf capital markets
