Middle East Bonds
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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.
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Bank Dhofar this week offered investors the longest tenor available from Oman’s banking sector but a tier one structure and lack of clear comparables was a recipe for disagreement over fair value.
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Fears that falling oil prices would hit Middle East bond market liquidity this year have not — as yet — been realised. The region’s investors are still cash rich and asking for paper. Bank Dhofar, Dubai Islamic Bank and Bank of Sharjah are among the names answering the call, with no sign that oil prices and macro worries have touched the region’s perennial appetite for fresh supply.