Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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Agricultural Bank of China (ABC) Dubai Branch is set to launch its debut renminbi-denominated bond this week, two bankers close to the deal have told GlobalRMB. The deal will mark the first offshore RMB bond from the UAE operation of a Chinese bank and paves the way for Dubai to become the RMB hub for the Middle East region.
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Abu Dhabi Islamic Bank (ADIB) concluded its purchase of Barclays’ UAE retail banking business on Monday. The acquisition’s impact on ADIB’s tier one ratio will be modest and helps increase the bank’s already strong footprint in consumer finance, although its margins in that market are surprisingly low, said one analyst. -
International Bank of Azerbaijan is looking at the possibility of setting up an Islamic banking unit in partnership with a Gulf Co-operation Council bank, an official at IBA told IFIS. And Azeri corporates could be ready to issue sukuk as early as 2015 as the country moves to finalise an Islamic banking law by the end of this year.
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Emirates NBD has announced a roadshow for a perpetual tier one bond. But the bond will not be structured with the aim of being Basel III complaint, which sparked debate among bankers on and off the deal.
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The emirate of Sharjah will be ready to launch its debut sukuk next week after starting investor meetings on Wednesday. A Middle East market awash with liquidity will welcome the deal with open arms, but the issuer is still likely to offer a concession relative to the main comparable Ras Al-Khaimah, said one investor.
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Emaar Properties launched a long expected IPO of its mall unit on Monday, making it the first company to jump into what is expected to be a very busy autumn new issue market.
