Middle East Bonds
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Investcorp, the Bahrain-based alternative asset manager, is set to sell its debut Swiss franc deal on Thursday afternoon, the first venture to the Swiss franc market from a Bahraini issuer. -
The Investment Corporation of Dubai has the emirate’s sovereign curve in clear sight as it looks to issue a debut $500m six-year sukuk as well as a $500m 10-year conventional bond on Wednesday afternoon.
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Risk weighting, credit ratings and the Dubai government itself have all been cited as contributing factors after the emirate’s sovereign wealth fund cut the size of its conventional bond offering in favour of a shorter dated sukuk.
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The Investment Corporation of Dubai plans to issue a debut six year sukuk as well as 10 year conventional bond and could price the benchmark dollar tranches as early as Wednesday.
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The Investment Corporation of Dubai has the emirate’s sovereign curve in clear sight as it plans to issue a debut six year sukuk as well as 10 year conventional bond as early as Wednesday.
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The Central Bank of Bahrain’s monthly sukuk al-ijara issue for May has been oversubscribed by 378%, its second biggest order book of the year so far.
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Prospective borrower Investment Corporation of Dubai will issue both sukuk and conventional bonds as part of its dollar offering, according to one investor who attended the company’s roadshow.
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Yield-chasing European investors are snapping up paper from Middle Eastern banks, which are having their busiest year ever in euro private placements. Mashreq Bank has taken advantage of the demand to print its first ever deal in euros.
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Prospective borrower Investment Corporation of Dubai will issue both sukuk and conventional bonds as part of its dollar offering, according to one investor who attended the company’s roadshow.
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Dubai based financial services firm Shuaa will consider issuing a debut sukuk as it looks to raise between Dh200 ($54.4m) and Dh300m ($81.6m) of debt to grow its lending to small and medium size enterprises (SMEs).
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Israeli Delek & Avner’s $2bn five tranche bond has tightened since pricing on Thursday evening — a further 20bp on the longer tranches and 26bp on the shorter.
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Israeli Delek & Avner launched the largest non-sovereign CEEMEA bond of the year so far on Thursday — a $2bn deal printed across five tranches from demand of over $14bn. Among the CEEMEA region’s sovereigns, only Poland, Slovakia and Romania have priced deals as large or larger in 2014.
