Middle East Bonds
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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.
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Ahli Bank Qatar is embarking on a series of investor meetings for its debut bond, a Reg S dollar benchmark.
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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.
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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.
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Strong demand from yield starved eurozone investors has triggered a flurry of MTNs from Middle-East issuers.
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Dubai Islamic Bank emerged with the year’s first public deal from a Gulf Co-operation Council financial borrower on Tuesday morning.
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Islamic Corporation for the Development of the Private Sector (ICD) will start investor meetings this week ahead of a potential public bond market debut.
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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.
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Qatar based Ahli bank has established a $1.5bn euro medium term note programme via a special purpose vehicle.
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Dubai Holding cancelled an opportunistic buyback of its 2017 bonds after bondholders asked for asked for too high a cash price, according to a banker on the deal.
