Middle East Bonds
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Announcements could come as early as Monday, the two month anniversary of the last public GCC trades -
Islamic investors have been a safe haven for Gulf issuers in the past, and can be now
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Kuwait joins PP party
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The Iran war has led to a flurry of private trades from the Gulf
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Even if ceasefire succeeds, investors will still want a risk premium
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Funding costs and new issue premiums are much higher than GCC issuers are used to
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Senior banker will move to Abu Dhabi to take up position
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Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
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Higher prices and concessions mean many issuers will wait for better days
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Borrowers from the Gulf region have a track record of remarkable primary market prints
