Middle East Bonds
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Emirates Telecommunications Corp (Etisalat) increased its June 2019 dollar bonds to $900m on Tuesday, paying a single digit new issue premium for the tap.
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A Polish Swiss franc deal this week proved that even emerging market credits can enter the weird world of negative yields, while in Latin America Petrobras results have cleared the way for a wave of fresh deals.
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Emirates Telecommunications Corp (Etisalat) has released final price guidance for a $400m tap of its $500m 2.375% June 2019s that equates to around a 7.5bp new issue premium, according to an analyst in London.
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Peter Turney has been hired as the head of capital markets funding at Mubadala Development Company, replacing Ali Najafbagy.
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Having taken its first taste of international sukuk this week, Dubai's Noor Bank plans to fund 10%-15% of its balance sheet through Islamic loans and bonds.
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Qatar-based Al Khaliji Commercial Bank sold its first ever privately placed medium term notes this week.
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Dubai-based Noor Bank sold a $500m debut sukuk on Wednesday, marking the first of what should be regular visits to the international sukuk market.
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Ahli United Bank sold its $400m tier one bonds on Wednesday, with leads having positioned the deal between Burgan Bank and National Bank of Kuwait.
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Bahrain’s Ahli United Bank has launched $400m of additional tier one notes at a yield of 6.875%, well inside the trading of comparable issuer Burgan Bank’s perpetuals though the deal is $100m smaller.
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Noor Bank sold a $500m debut sukuk on Wednesday, marking the first of what should be regular visits to the international sukuk market.