Middle East Bonds

Rating: Baa2

Guarantor: Qatar Real Estate Investment Co

Rating: Aa2/AA/AA

Rating: BBB-

Rating: Ba1/BB+/BB+

Dar Al-Arkan Real Estate Development Company sold $1bn of five year floating rate Islamic bonds, priced at 225bp over three-month Libor. ABC Islamic Bank, Arab National Bank, Deutsche Bank, Dubai Islamic Bank, Gulf International Bank, Kuwait Finance House and Unicorn Investment Bank were the bookrunners.

Rating: A3/BBB+ (Fitch)

Dubai Sukuk Centre Ltd

Rating: Baa2/BBB+/BBB+

Rating: A1/A+/A+

Guarantor:Dubai Holding Commercial Operations Group

Taqa, the Abu Dhabi National Energy Co, made a dazzling entry into the international capital markets this week, pricing the largest ever straight bond issue from the Middle East — a three-tranche blowout totalling the equivalent of $3.5bn that pulled $10bn of demand.