Middle East Bonds
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Saudi bank knocked 50bp off yield thanks to $2.4bn book -
The wealth fund is the second state-owned issuer from Abu Dhabi in as many days
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The country's debt levels are very high, and weaker oil prices are a threat
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The company is well known to emerging market corporate bond investors
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Sukuk goes straight to final spread to avoid volatility
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Deal seen as vote of confidence in UAE real estate
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The company is offering investors about 40bp of concession at initial price talk, said a lead
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Demand for sukuk has remained healthy amid the wider market volatility
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Conventional bond issuers may have to pay a lot more for their deals
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The UAE bank has never printed in the sukuk market before
