Middle East Bonds
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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.
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Bank Dhofar offered investors the longest tenor available from Oman’s banking sector this week, but a tier one structure and lack of clear comparables was a recipe for disagreement over fair value.
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Bank of Sharjah is starting roadshow meetings for a dollar Reg S benchmark bond on May 21.
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Bank Dhofar has released "attractive" initial price guidance of 7% yield area for the first ever Omani tier one capital bond. The perpetual deal is callable after five years, and its size is capped at $300m.
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Industrial and Commercial Bank of China (ICBC)’s Dubai branch wrapped up a stylish debut on May 18, selling a $500m five year bond. Encouraged by its success, ICBC Singapore opened books for a three year dollar bond the very next day. -
Dubai Islamic Bank has mandated six banks for a dollar Reg S benchmark sukuk.
