Middle East Bonds
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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. -
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.
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Kuwait Projects Company (Kipco) printed the first bond this year from a corporate in central and eastern Europe, the Middle East or Africa on Tuesday. While the solid international book could not prevent some softness in secondaries the next day, the issuer was unaffected by rating action by Moody’s this week.
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Israel printed a new 10 year bond and a tap of 2043s on Wednesday with only a small new issue concession and some of the biggest books seen so far this year for a CEEMEA bond.
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Israel has tightened price guidance on its 2043s tap and new 10 year bond, both in dollars, in the hope of printing the deal later on Wednesday.
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Kuwait Projects Company (Kipco) printed the first CEEMEA corporate of the year on Tuesday but the solid international book could not prevent some softness in secondaries the next day.
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KOKS Finance and Dubai Holding are looking to buy back part or all of their dollar notes due 2016 and 2017, respectively.
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Kuwait Projects Company (Kipco) was on track to print 2016's first corporate bond from CEEMEA on Tuesday as Turkish conglomerate Koc Holdings also said it would issue a seven year bond.
