Middle East Bonds

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.

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.

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.

Emirates Islamic Bank launched a $750m five year sukuk on Monday in a hectic market for Middle Eastern issuers.

Saudi Arabia has released a request for proposals for its much anticipated international bond. GlobalCapital has details.

The Gulf region is on for a record first five months of the year for bond issuance with Qatar, Noor Bank, Etihad and DP World all mandating this week.

DP World, one of the world’s largest port operators, has mandated nine banks for a dollar sukuk and is looking to price the deal next week.

Qatar has mandated banks for a dollar senior unsecured bond, which bankers away from the note are expecting to be as large as $5bn in total.