Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
Higher prices and concessions mean many issuers will wait for better days
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Two Gulf bank issuers — Qatar National Bank and Gulf International Bank — hit bond markets on Tuesday to raise dollar funds, following what has been a busy period for Middle Eastern issuers. With investor appetite remains ravenous and market conditions healthy, there is scope for further issuance. -
The IPO of BinDawood, the Saudi supermarket operator, has made off to a fast start with banks covering the deal throughout its price range the day it opened books, driven by strong local demand.
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Saudi Electricity Co, which is majority-owned by the kingdom of Saudi Arabia, has raised its debut green sukuk — making it the first green bond ever issued by a Saudi issuer, just months after the Ministry of Finance raised a green export credit agency-backed syndicated loan.
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The Kingdom of Bahrain, one of only two sub-investment grade sovereigns in the typically highly rated Gulf, tapped investors this week for its second bond of the year. The deal comes just weeks after Bahrain increased its debt ceiling, as Gulf states grapple with the impact of low oil prices and Covid-19 on their spending plans.
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State-owned Saudi Electricity Co is set to debut in the still nascent green sukuk market, making it only a handful of issuers across the world to do so.
