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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The Kingdom of Bahrain, one of only two sub-investment grade sovereigns in the Gulf, is tapping markets for its second bond of the year. The mandate 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. -
The Commercial Bank of Qatar has mandated banks for a dollar-denominated benchmark bond — the latest in a string of Qatari banks to enter international debt markets in recent months.
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Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), which holds almost $400bn of assets under management, has played a critical role in maintaining financial stability during the coronavirus pandemic. Alireza Zaimi, head of corporate finance at the PIF, tells GlobalCapital how the fund weathered a commodity shock of unprecedented proportions, how the crisis has shaped its investment choices, and how its funding strategy has held up.
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Dubai, Ahli Bank and Sabic proved that the Gulf remains one of the most attractive of the emerging markets, with all three issuing dollar bonds this week.
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The Emirate of Dubai surpassed expectations on its return to the bond market six years after its last issuance, with the sukuk tranche of its dual trade gaining notable traction. The borrower is the third Emirate to enter debt markets since the coronavirus crisis began.
