Middle East Bonds
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Lebanon sold its largest ever new issue on Monday, printing an $800m 10 year and $1.4bn 15 year from combined books of $4.9bn. -
Islamic Development Bank (IDB) has picked bookrunners for a benchmark Reg S sukuk and starts investor meetings in March.
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Qatar Islamic Bank’s (QIB) shareholders approved up to Qr5bn ($1.37bn) of tier one sukuk during an extraordinary general meeting on Monday, according to a QIB statement.
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The National Bank of Ras Al-Khaimah PSC (Rakbank) upped the size of its 2019s on Monday to $800m after a $300m tap.
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Lebanon had combined orders of $1.5bn for its 10 and 15 year offering at the last update. Bankers expect the 10 year to be priced inside the borrower’s curve.
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Emirates, the airline, is weeks away from a ground breaking benchmark sukuk guaranteed by UK Export Finance (UKEF). Banks are mandated and more issuers could follow.
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Bahraini investment group Gulf Finance House (GFH) has signed a memorandum of understanding with Kuwaiti firm Gulf Holding Company (GHC) and Saudi lender Al-Rajhi Bank to provide funding that will allow GHC to complete its Villamar project. The agreement also provides for restructuring an existing sukuk facility, according to GFH.
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Emirates, the airline, is weeks away from a ground-breaking benchmark sukuk guaranteed by UK Export Finance (UKEF). Banks are mandated and more issuers could follow.
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Abu Dhabi Commercial Bank (ADCB) is meeting investors in London next week for what is likely to be the borrower’s second dollar benchmark in six months.
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Emirates airline will be the first borrower to test appetite for UK Export Finance’s (UKEF) new sukuk guarantee structure and has picked its bookrunners.
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First Gulf Bank priced its $750m bond from a book of $1.7bn on Tuesday afternoon in London, offering a 5bp-10bp new issue premium.
