Middle East Bonds
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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.
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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.
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Noor Bank made its additional tier one (AT1) debut on Tuesday, raising $500m with a perpetual sukuk.
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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.
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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.
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National Bank of Abu Dhabi’s head of debt origination and distribution for southeast Asia has quit the firm.
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Noor Bank is book building for a five year additional tier one sukuk which is expected as to be Tuesday's business as the market recovers from a US Federal Open Markets Committee-related spook.
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Etihad Air Partners was on Monday talking a new five year deal at pricing inside where it printed a similarly structured bond last September. The deal is expected to be printed as early as this week.
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Emirates Islamic Bank launched a $750m five year sukuk on Monday in a hectic market for Middle Eastern issuers.
