Middle East Bonds
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Qatari residential property developer Ezdan managed to recover its credibility as a sukuk issuer on Wednesday, printing a $500m 2022 at a reasonable spread, after what one EM syndicate banker referred to as its “shambles” of a debut in May. -
Al Ahli Bank of Kuwait (ABK) is on track to become the fifth bank from the Gulf state to access the dollar market this year, while Ezdan pulls off a coup for lower rated names in the sukuk market.
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National Bank of Abu Dhabi (NBAD) priced the Gulf’s first ever green bond 7bp inside initial price thoughts on Monday.
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National Bank of Abu Dhabi (NBAD) has emerged with pricing for the Gulf’s first green bond, more than six months after meeting investors to market the note.
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Strong fund inflows and narrowing new issue premiums brought another round of CEEMEA borrowers out of the woodwork this week as some investors sounded the alarm over market exuberance.
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Lebanon took orders of nearly $18bn for its largest ever bond on Monday and quality international participation was seen in a book that remained dominated by local accounts, according to bankers on the deal.
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Qatari real estate developer Ezdan Holding has picked banks to arrange its second sukuk.
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Lebanon was on track to print a triple tranche bond at the long end of the curve on Monday, having announced price talk first thing.
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National Bank of Abu Dhabi revealed its new capital markets leadership on Thursday, following the bank’s merger with First Gulf Bank.
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Gulf Cooperation Council governments are expected to raise $32.5bn in international sovereign bonds this year, down from the record $38.9bn last year, said Moody’s in a report on Tuesday.
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This week saw the entry of Kuwait into the capital markets. The sovereign’s long awaited debut received orders of $29bn at peak, proving that demand for the region is as strong as ever. Now Argentina is looking to print a rare Swiss franc deal.
