Middle East Bonds
-
CEEMEA bond watchers rarely agree on Middle East perpetual pricing and National Bank of Oman (NBO) was no exception. Rival bankers and investors gave a range of estimates as to how much NBO was paying up for its debut additional tier one (AT1) transaction. -
International Bank of Qatar (IBQ) has mandated three banks to arrange a debut benchmark dollar Reg S senior bond. The deal will be eagerly watched as it will be only the second senior conventional ME bank deal since June.
-
National Bank of Oman has set initial price thoughts on a tier one perpetual note. Commercial Bank of Dubai’s new $400m five year senior deal, meanwhile, was down in the secondary market on Wednesday, but investors said the slide was down to wider market weakness.
-
Commercial Bank of Dubai is settling for a smaller print and wider spread than originally indicated on its latest five year dollar bond, according to rival bankers and buyers.
-
Middle East multilateral, Gulf Investments Corp (GIC) decided against proceeding with a dollar bond after finishing a roadshow. Liquidity in the region is falling, rating downgrades are looming and supply is likely to increase. Bankers should get used to borrowers balking at the final step — and not worrying about it.
-
Commercial Bank of Dubai has released initial price thoughts for a five year dollar benchmark at mid-to low 200bp over mid-swaps.
-
Bahrain has picked banks for investor meetings ahead of a dollar bond deal and starts investor meetings this week.
-
After seven days of silence since finishing a roadshow, Gulf Investment Corp (GIC) looks unlikely to proceed with a planned dollar deal, said bankers close to the mandate.
-
A spate of mandates hit CEEMEA this week, with Macedonia and Cameroon joining two Middle East banks in announcing new deals.
-
Member economists of the crowdsourced online tool for assessing sovereign risk, Euromoney Country Risk, believe that Jordan’s prospects have lifted over the past year.
-
The Hashemite Kingdom of Jordan printed its first non-US guaranteed standalone deal from the country for five years on Tuesday, and at a tight price.
