Middle East Bonds

Burgan Bank has set investor meetings for the first ever international perpetual tier one bond from Kuwait. The Reg S benchmark dollar bond is being arranged by Citi, HSBC, JP Morgan and National Bank of Abu Dhabi.

Burgan Bank has set investor meetings for the first ever international perpetual tier one bond from Kuwait. The Reg S benchmark dollar bond is being arranged by Citi, HSBC, JP Morgan and National Bank of Abu Dhabi.

Kuwaiti telecoms firm Zain is looking to issue bonds and sukuk for the first time in its history – in what could also be the first sukuk deal from Kuwait in over 16 months.

The Central Bank of Bahrain has sold BD36m ($95.4m) of its monthly sukuk al salam, but demand for the paper has fallen in the last two months.

National Bank of Abu Dhabi is set to embark on a hiring push as it makes its bid for the top in loans, bonds and sukuk origination.

First Gulf Bank has hired Michael Aissaoui as head of corporate finance advisory. Aissaoui was hired from National Bank of Abu Dhabi where he held the very same role since 2012.

Egyptian financial authorities will meet with market participants on Wednesday to discuss a revised version of the country’s sukuk law, an official at the Egyptian Financial Supervisory Authority (EFSA) told IFIS.

Giles Borten, co-head of EMEA corporate debt capital markets and sole head of EMEA leveraged finance at UBS, has left the bank, according to an internal memo seen by GlobalCapital.

Dubai's DIFC Investments is planning to issue its second ever sukuk. The trade could be a benchmark dollar deal of around $400-$500m according to a banker with knowledge of it.

Dubai's DIFC Investments is planning to issue its second ever sukuk. The trade could be a benchmark dollar deal of around $400-$500m according to a banker with knowledge of it.

Gulf Finance House is planning to end a seven year sukuk absence with a $200m transaction which should pique the interest of high yield accounts and hedge funds, said one investor in London.

Rising sukuk redemptions should be drawing issuers to market to take advantage of high liquidity still low spreads before they disappear, said debt bankers. Sukuk redemptions will hit record highs this year and again in 2016, according to Dealogic data. Debt bankers are optimistic they can convince borrowers to take advantage of a closing low yield window, and would much prefer to see corporates take the lead.