Middle East Bonds
-
The Islamic Corporation for Development set the spread on its benchmark sukuk at the wide end of guidance on Tuesday afternoon in London, but by Wednesday midday the sukuk had still not been priced. -
A couple of debut issuers from the Middle East and two live debt exchanges are keeping bankers in CEEMEA busy this week and with several roadshows, albeit non-deal ones, in progress, the pipeline looks healthy.
-
Ahli Bank Qatar (IBQ) has released initial price guidance for its debut bond, a Reg S dollar benchmark, at 275bp area over mid-swaps.
-
The Islamic Corporation for Development has released initial price guidance for its dollar benchmark five year sukuk and is expecting to print the note later on Tuesday.
-
A slew of unusual CEEMEA issuers this week announced plans to meet with investors: Global Ports Investments, Kenya, Ahli Bank Qatar and Alternatifbank. Some are specified as non-deal meetings while others are focussed on specific deals.
-
Ahli Bank Qatar is embarking on a series of investor meetings for its debut bond, a Reg S dollar benchmark.
-
Bankers hailed the reopening of the market for Gulf Co-operation Council financial names after Dubai Islamic Bank achieved tight pricing for the first benchmark deal from the sector for more than four months.
-
Dubai Islamic Bank priced the year’s first public bond from a Gulf Co-operation Council financial borrower tight to its existing curve on Tuesday thanks to strong demand from regional investors.
-
Strong demand from yield starved eurozone investors has triggered a flurry of MTNs from Middle-East issuers.
-
Dubai Islamic Bank emerged with the year’s first public deal from a Gulf Co-operation Council financial borrower on Tuesday morning.
-
Islamic Corporation for the Development of the Private Sector (ICD) will start investor meetings this week ahead of a potential public bond market debut.
-
Dubai Islamic Bank is embarking on a roadshow for a senior dollar sukuk, and looks likely to be the first bank from the Gulf Cooperation Council to enter the public bond markets this year.
