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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Garanti Bank sold a €500m five year bond on Tuesday in line with initial price thoughts — an unusual event in CEEMEA where pricing is typically tightened. But a syndicate official on the note said he was pleased with the result, and one away from the deal said Garanti’s generosity may have been necessary after a string of Turkish bank deals in the last month.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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Sukuk issuance has passed last year’s first half total after a busy second quarter compensated for a slow start to the year. The volumes were aided by a rare international perpetual sukuk from Al Hilal and the United Kingdom government’s debut deal, both placed in the last week before Ramadan. -
Insurance company XL Group has extended its support for Cobalt Underwriting, a Shariah compliant managing general agency, with cover for financial lines products spanning financial institutions, professional indemnity and managing liability.
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United Arab Bank has signed its first ever Shariah-compliant financing agreement – a three year $100m murabaha facility with four Gulf banks.
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Garanti Bank has set final yield guidance for its five year €500m no grow bond at 3.5%, in line with price guidance earlier in the day. But some rival bankers said they had expected to see a tighter print.
