Middle East Bonds
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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.
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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.
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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.
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A spate of mandates hit CEEMEA this week, with Macedonia and Cameroon joining two Middle East banks in announcing new deals.
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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.
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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.
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Multilateral development bank Gulf Investment Corp (GIC) has yet to open books on a dollar bond after finishing a roadshow on Monday. But the delay was not a sign of wider Middle East uncertainty, said the leads on the trade.
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The Hashemite Kingdom of Jordan has released initial price thoughts of 6.75% area for a new January 2026 bond. The bond is the country's first international deal in five years not to have a US government guarantee, according to Dealogic data.
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Peter Bakos has joined the debt finance group at Bank Muscat in Dubai to head its cross border business development.
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National Bank of Oman has mandated five banks for a dollar perpetual additional tier one (AT1) bond and is starting the roadshow for the deal on November 5.
