Middle East Bonds
-
Gulf Co-operation Council bond issuance hit a year-to-date record this week, boosted by the whopping $9bn bond from Qatar. Emerging markets bankers are right to be nervous about how much more investors can take but finding out need not be traumatic.
-
-
-
-
-
State of Qatar made history by printing the largest ever deal from a CEEMEA borrower on Wednesday. The triple-tranche $9bn jumbo trade surpassed size expectations and proved that demand is abundant for the strong pipeline of Gulf issuers. -
The order books on Qatar’s triple tranche offering on Wednesday morning have been gathering serious momentum leading emerging markets bankers away from the deal to assess the bond was being priced to maximise size.
-
High profile sovereign bonds have dominated CEEMEA markets so far this week. Russia returned on Tuesday with its first deal since 2013, but not with the international slam-dunk the sovereign was hoping for. Elsewhere Qatar started book building for its long-awaited bond.
-
Noor Bank made its additional tier one (AT1) debut on Tuesday, raising $500m with a perpetual sukuk.
-
DP World was on track to print a new seven year sukuk on Tuesday morning after receiving over $1bn of valid tenders for its existing $1.5bn 2017 sukuk.
-
Emirates Islamic saw strong demand for its first guarantee-free sukuk on Monday. So keen were investors to get hold of the paper, that the issuer increased the size of the deal by $250m.
-
National Bank of Abu Dhabi’s head of debt origination and distribution for southeast Asia has quit the firm.
