Middle East Bonds
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It has been a record year for Saudi bond or sukuk issuance
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Leads looked at recent European AT1 deals, but picked ADIB's summer trade as price comp
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◆ Israel has been loading up on bonds since Hamas attack ◆ Is the SLB market about to come of age? ◆ A fresh innovation in corporate lending
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Bond sales spark questions of who invested and whether issuer was augmenting or replacing public benchmark funding
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The trade was priced at a marginally tighter spread than a recent Gulf bank trade
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ADIB likely to be used as main comparable
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The bank hopes its green print will prove a blueprint to others
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The note would be the bank's first trade since its blowout tier one sukuk in the summer
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The sovereign issued two new bonds and then tapped one of them
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Investors expect flurry of new issues
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The sovereign wealth fund paid no concession for its green debut
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The book has passed $5.5bn for a deal under $1bn