Middle East Bonds
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Mamoura Diversified Global Holdings (formerly Mubadala Development Company) has released initial price guidance for its dollar triple trancher at levels a rival syndicate official said looked fair, and included another 30 year bond from the region in just over a month. -
Masraf Al Rayan, the second largest Islamic bank in Qatar by total assets, is embarking on a roadshow for its debut outing in the international sukuk market.
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Emerging markets issuers enjoyed supportive market conditions this week as a variety of deals gave low new issue premiums and attracted healthy order books. But with investors talking about downing tools for the year, it is not clear how much longer helpful conditions will last.
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Majid Al Futtaim, the Middle Eastern shopping mall developer, came to market on Wednesday for a Reg S long 10 year sukuk, one day after Saudia Arabia won a $13bn order book for its own deal in the format.
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The Kingdom of Saudi Arabia is tapping hard currency debt markets for the first time since Fitch hit it with a downgrade, launching a $2.5bn sukuk on Tuesday.
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Middle Eastern shopping mall developer Majid Al Futtaim is holding investor calls this week as it eyes another green sukuk deal.
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The Emirate of Sharjah shrugged of any concerns about broader volatility in emerging markets on Wednesday, to price a 10 year sukuk flat to its curve.
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Aldar Investment Properties has raised a 10 year $500m sukuk, achieving a tightening of 35bp beyond initial guidance.
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The Emirate of Sharjah is planning a benchmark 10 year Reg S senior unsecured sukuk.
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Middle Eastern banks returned to the Swiss franc market this week after an absence of almost five months with trades from two Gulf banks providing some respite for yield-starved investors.
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Dar Al-Arkan, a Saudi Arabia-based real estate developer, raised $600m on Wednesday with a February 2025 sukuk, defying market volatility to offer little in the way of new issue premium.
