Middle East Bonds
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Strong demand enabled Equate Petrochemical to aggressively revise pricing to print a restrained $500m sukuk on Monday from a book that reached $4.2bn before it was reconciled. -
Bank of Sharjah has been forced to delay its planned senior bond sale after the Central Bank of the UAE failed to sign off the bank’s financials.
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Equate Petrochemicals was on track to print its debut sukuk on Monday. Bankers on the deal said it was likely to print inside where a new conventional bond would come.
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Dubai Islamic Bank printed the largest ever senior financial sukuk on Tuesday, an accomplishment that bodes well for the busy pipeline of Middle Eastern bonds.
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Dubai Islamic Bank printed the largest ever senior financial sukuk on Tuesday proving the market to be in rude health, good news for the busy pipeline of Middle Eastern bonds and Kipco, which mandated on Wednesday.
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Emerging market bankers are busy on the road as mandates start to ramp up but this week all eyes will be on Nigeria, which wraps up investor meetings on Wednesday.
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Dubai Islamic Bank had taken orders of over $2.2bn by lunchtime on Tuesdayto launch the first financial sukuk from the Middle East of 2017.
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Ahli Bank Qatar will hit the road next week for a five year senior bond, as issuance from Middle Eastern banks ramps up.
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Sukuk supply looks set to step up in the first half of February, after two Gulf borrowers this week announced plans for roadshows ahead of potential dollar deals in the format.
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Sukuk supply looks set to step up next week after Dubai Islamic Bank became the second borrower in two days to announce plans to meet investors ahead of a potential dollar deal in the format.
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Equate Petrochemical Company will meet investors next week ahead of a potential sukuk market debut.
