Middle East Bonds

An Emirati financial has mandated banks for a tier one dollar transaction, adding to the Middle East post-summer pipeline.

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.

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.

BNPP Paribas made redundant another banker in its CEEMEA DCM team.

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.

Omani oil & gas firm Renaissance Services sold a dual tranche dollar and Omani rial perpetual bond on Wednesday amounting to $125m.

Omani oil and gas firm Renaissance Services has sold a dual tranche dollar and Omani rial perpetual bond amounting to $125m.

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.

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.

Firms eager to set up Iran-focussed funds have had to contend with extension after extension of the talks upon which their prospective businesses depend. But as yet another deadline for an agreement on lifting Iran’s sanctions approaches, there are still firms creating fresh investment vehicles.

Peru’s Corporación Financiera de Desarrollo (Cofide) proved Latin America’s resilience amid widespread volatility with an $800m two part deal this week. In CEEMEA, Poland added its name to the pipeline of mandates hoping for a window.

Ripples from Greece’s weekend referendum reached the CEEMEA market on Monday. But a lack of recent bond issuance against crashing yearly volumes meant the immediate impact was minimal, and debt bankers are not ruling out deals this week.