Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Investors are still showing big demand for the Dubai real estate firm's sukuk despite two sell-offs in a year
Wider currency mix helped meet demand for high grade paper with attractive yields from the region
The company has enjoyed two rating upgrades since its last sukuk issuance
Some price discovery needed due to sukuk format and long tenor
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Modest order books and higher new issue concessions for dollar and euro issues this week showed that emerging markets borrowers are operating in a different market to a month ago, before inflation concerns had brought non-stop volatility to US Treasury markets. -
On Wednesday, the Emirate of Sharjah sold a $1.25bn dual tranche bond. Though the issuer conceded that market conditions were not "perfect", given sustained volatility in US Treasuries, this week’s deal allowed the state to extend its credit curve.
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Mamoura Diversified Global Holding, an Abu Dhabi sovereign investment vehicle, launched a euro bond on Thursday. Issuers with access to and a need for both currencies, investors said, will find a haven in the euro market while volatility in dollar yields continues.
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The Emirate of Sharjah launched a dollar bond on Wednesday, just over five months since it last tapped investors. But not all buyers were keen to add more exposure to the credit.
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Arab Petroleum Investment Corp, the multilateral development bank headquartered in Saudi Arabia, returned to the capital markets to tap a bond it issued just last month. The dollar note saw a notable tightening in pricing.
