Middle East Bonds
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Recent volatility in US and European bond markets has damaged capital flows into emerging markets. Although some analysts are expecting things to improve, the Institute of International Finance (IIF) expects capital flows into EM to hit their lowest level since the 2008 this year.
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Emirates NBD has sold a trio of private MTNs, including its largest ever in the currency, as Japanese demand grows for the name.
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Dubai Islamic Bank (DIB) ended up printing a larger than initially intended senior unsecured sukuk on Wednesday without compromising on spread, said bankers on the deal. Bank of Sharjah, meanwhile, is on track to continue the Middle East’s dominance of CEEMEA with a benchmark debut conventional deal.
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Abu Dhabi Islamic Bank (ADIB) will ask shareholders to raise the banks’ tier one sukuk programme from $2bn to $3bn to keep track with ADIB’s expansion.
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Emirates NBD has sold a trio of private medium term notes, including its largest MTN in the currency, as Japanese demand grows for the name.
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Bank of Sharjah is still conversing with its lead managers after finishing a roadshow on Tuesday, leaving next week as the earliest window for its debut issue.
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Dubai Islamic Bank ended up printing a larger than initially intended senior unsecured sukuk on Wednesday without compromising on spread, said bankers on the deal.
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Dubai Islamic Bank has received over $1.6bn in orders for its first senior sukuk in three years, and plans to price the note on Wednesday afternoon.
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Egypt has set roadshow dates for its 144A/Reg S bond.
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Dubai Islamic Bank finishes investor meetings on Tuesday for what is likely to be a five year senior unsecured sukuk.
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Trussbridge Group has launched a new Middle East based financial services firm aimed at corporates, investors and family businesses.