Middle East Bonds
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Qatar Islamic Bank (QIB) has picked banks for a senior Reg S sukuk, and kicks off investor meetings this week.
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Beset by dire predictions and gloomy warnings from all sides as to the future of emerging markets, CEEMEA borrowers decided to ignore the melodrama and produce the second biggest week for issuance of the entire year.
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Bahrain’s Bank ABC has hired two bankers as it expands its syndication business. -
Citi has announced the appointment of Usman Ahmed as the chief executive officer for Citi Bahrain as well as chief executive for Citi Islamic Investment Bank.
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Société Générale has appointed Antoine Toussaint as chief country officer and CEO of its Saudi Arabia subsidiary.
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Abu Dhabi Water & Electricity Authority (Adwea) is planning an international dollar project bond, which could be the first such deal from CEEMEA since 2013.
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The Government of the Sultanate of Oman, has mandated banks for its Omani rial sukuk, which is expected to be a precursor to an international sukuk.
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Debt bankers are pinning their hopes on the Middle East to get fourth quarter bond supply off to a strong start, after a torrid final two weeks of September.
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Bahrain is planning a dual tranche international bond deal, according to bankers that have seen the Kingdom’s request for proposals (RFP).
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Abu Dhabi Commerical Bank — an A-rated CEEMEA stalwart — pulled a dollar bond mid-way through execution on Monday afternoon, leaving bankers and buyers questioning whether Middle East liquidity could be much weaker than they had thought.
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Rival debt bankers like to pounce on pulled deals like coyotes on wounded possums. But emerging market syndicate officials would do well to look beyond the opportunity for point scoring to what Abu Dhabi Commercial Bank’s abortive trade really indicates about Middle East liquidity.
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Rival debt bankers like to pounce on pulled deals like coyotes onto wounded possums. But emerging market syndicate officials would do well to look beyond the opportunity for point scoring to what Abu Dhabi Commercial Bank’s abortive trade really indicates about Middle East liquidity.
