Middle East Bonds
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Abdulla Ali has joined Abu Dhabi Islamic Bank (ADIB) as head of agency, corporate finance and investment banking.
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Kuwaiti financial Burgan Bank has receive approval to buy back $400m and KD100m ($329.7m) in subordinated debt, which will no longer count as capital under Basel III regulation.
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After being left behind by their Asian and Latin American brethren in recent years, CEEMEA borrowers are finally moving towards issuing green bonds in size, writes Steven Gilmore. -
An Emirati financial has mandated banks for a tier one dollar transaction, adding to the Middle East post-summer pipeline.
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At least one CEEMEA borrower is hoping to bring that market’s first dollar green bond before year end, and in a size larger that the modest euro prints done so far.
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The Lebanese sovereign is planning to issue a request for proposals in September for a dollar benchmark, according to bankers familiar with the borrower’s plans.
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BNPP Paribas made redundant another banker in its CEEMEA DCM team.
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Once the wild west of finance, emerging markets had dodginess and defaults aplenty. Now ethical investors want socially responsible investments. But if SRI criteria are too strict there will be nothing to buy, writes Steven Gilmore.
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Omani oil & gas firm Renaissance Services sold a dual tranche dollar and Omani rial perpetual bond on Wednesday amounting to $125m.
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Omani oil and gas firm Renaissance Services has sold a dual tranche dollar and Omani rial perpetual bond amounting to $125m.
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CEEMEA debt bankers spent Monday morning on the phone to issuers following news of a Greek bailout agreement. But prospects for supply still hinge on a Greek parliamentary vote on Wednesday, and even then not just any CEEMEA issuer will be able to launch, said debt bankers.
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Bankers are sharpening their elbows in the Middle East as competition ramps up. GlobalCapital caught up with HSBC’s head of capital markets and financing for MENA and Turkey, Selim Kervanci, to see how the lower oil price is affecting the region’s capital markets, and the next drivers for development of its bond markets.
