Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
JP Morgan overtakes HSBC to go top for the region
New facility smaller than the original but 20% larger than the launch amount
The new hire will report to Stan Chart's MENA FIG chief
In Europe loans are the key to opening ancillary business while in the Middle East relationships should cap premiums
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The Saudi-headquartered Islamic Development Bank is set to sell a dollar bond on Wednesday, having launched the deal on Tuesday. The sustainability sukuk is one of two FIG deals from the Gulf region this week, as Kuwait’s Boubyan Bank also entered the market for a dollar sukuk. -
A handful of bond mandates from the CEEMEA region this week suggests that issuer confidence may be on the rise across emerging markets after a particularly turbulent period of sell-offs in US Treasury bonds.
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The Islamic Development Bank mandated banks on Monday to arrange a sustainability sukuk, having forayed into the market last year with a Covid-focused deal. Fellow Gulf-based issuer Boubyan Bank has also mandated banks for a dollar sukuk.
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Despite the disruption that the coronavirus pandemic and, more recently, volatility in global markets have brought to emerging market debt, issuers in the CEEMEA region are not backing away from their pivot towards ESG financing. Though concerns about greenwashing are holding the market back, new sustainability-linked and transition structures are tempting issuers.
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CEEMEA bond market participants were keeping an eye on the US Federal Reserve this week, after weeks of volatility in the US Treasury market. Whatever the Fed announces after this week's Federal Open Market Committee meeting will dictate whether CEEMEA bond supply resumes next week.
