Middle East Bonds

Jeffrey Elkhoury, a CEEMEA DCM banker, has moved to Dubai to as part of Société Générale’s plan to grow in the Middle East.

Two Qatari banks raised new debt in different formats on Thursday, proving that Qatari banks have a multitude of funding options available to them.

First Abu Dhabi Bank hit the Taiwanese market for a Rmb1.1bn ($172.69m) bond on Wednesday, just two months after its last Formosa deal.

Israel Chemicals, a leading global specialty minerals and chemicals company, has named leads for a rare long dollar deal, combined with a tender offer.

A senior and long serving emerging markets DCM banker at JP Morgan has quit the bank.

Commercial Bank of Qatar has become the first Qatari bank to mandate for a bond following the successful sovereign return in April, and much is riding on its success.

The strengthening dollar is wreaking havoc for emerging market bond investors as assets in local currencies and dollars alike take a hammering.

After four years away from the high yield market, UK North Sea operator Ithaca Energy was back with a bond refinancing deal this week, as European oil and gas issuance runs well ahead of last year’s pace.

The Islamic Development Bank has set the roadshow schedule for its euro benchmark.

Bahrain’s Oil and Gas Holding Company (Nogaholding), which is 100% state owned, is looking for seven year funding.

Lebanon’s Blombank on Friday issued $300m of debt but the deal was most likely locally placed, according to international investors, who did not get involved because it offered no spread over Lebanon’s sovereign curve.

NMC Health, the Abu Dhabi-based private hospitals company, had to revise the terms of its debut $450m convertible bond issue downwards on Monday after pushback from investors on the price.