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Aramco saga could end with a $25bn whimper
Saudi Aramco’s decision to make its IPO a local affair, with no international marketing, is a lacklustre end to what is nonetheless a huge capital markets event. Unrealistic objectives and hype have taken the shine off a monumental deal.
19 Nov 2019 -
Aramco chooses local deal over international book
The IPO of Saudi Aramco will be a local affair after international investors made clear that they wanted a greater concession for the oil giant than the Saudi Arabia was willing to give.
18 Nov 2019 -
QIIB keeps up sweet stream of sukuk deals as market’s diversity blossoms
Flourishing conditions in the sukuk market stepped up another gear this week as Qatar International Islamic Bank priced an additional tier one bond that one of its leads claimed was the tightest ever such trade from the Gulf Cooperation Council states.
14 Nov 2019 -
QIIB prints AT1, NBK to follow
One Middle Eastern bank is in the market with a sukuk additional tier one note, while a second announced it will go on the road for its own AT1.
13 Nov 2019 -
EM conditions still welcoming for issuers but slip-ups are a danger
Emerging markets issuers are pumping out mandates, with the buy-side showing little sign yet of closing shop for the year, but investors are not throwing cash at everything.
13 Nov 2019 -
ECM investors wait for Aramco range
Equity capital markets investors are waiting eagerly for the price range for Saudi Aramco's IPO and are hoping the Saudi state has listened to the feedback they have given it so far.
13 Nov 2019 -
A normal IPO process for Aramco is the perfect approach
Saudi Aramco released an initial IPO prospectus on Sunday and some, mainly in the mainstream financial press, were outraged that it contained no details on price or deal size. However, a full two week investor education process is a perfectly normal feature of IPOs and the fact that Aramco is doing its deal by the book is a good thing.
12 Nov 2019 -
Islamic Development Bank keeps green sukuks rolling, announcing debut
Islamic Development Bank has spurred momentum in the green sukuk market, as it announced its debut, a euro deal, in the format this week.
12 Nov 2019 -
ICE sets up shop in Abu Dhabi ahead of Murban futures
Intercontinental Exchange on Monday announced that it will launch a new trading venue in Abu Dhabi to offer futures contracts referencing Murban crude oil.
11 Nov 2019 -
Consolidation frenzy among Gulf banks rages on as Bahrain’s NBB bids for BIsB
National Bank of Bahrain has made a bid to buy a majority stake in Bahrain Islamic Bank, of which it already owns 29%. The move is the latest in a seemingly endless round of consolidation between Gulf banks, driven by the effort to become more competitive in what many have called an oversaturated banking market.
07 Nov 2019
