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Two more follow Darwish and Safa leaving last month
Peace agreement will be needed to restore normal enthusiasm
Higher dollar yields dampen some of the callable demand
The duo were the first AT1s from the GCC since Emirates NBD's reopener in April
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Sovereigns are making the most of a bounce in demand for CEEMEA bonds after the coronavirus pandemic and oil shock sent markets into a tailspin earlier this year. They have extra spending to fund, but with QE on the rise investors have cash to place. But other pandemic policies have left parts of CEEMEA capital markets moribund.
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The Islamic Development Bank (IsDB) has mandated for a sustainability sukuk, half a year after making its socially responsible investment debut with a green bond. It will use the proceeds to support Covid-19 relief efforts.
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Simon Eedle has been named senior country manager for the UK at Natixis’s corporate and investment bank. Barbara Riccardi steps into his old position as regional head for the Middle East.
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First Abu Dhabi Bank (FAB) has decided to call an additional tier one deal, the coupon of which was due to drop in its favour. The move goes against the grain of the borrower's Gulf peers.
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Saudi Arabia is set to raise its inaugural green loan with export credit agencies next month. The groundbreaking loan would be the first of its kind in the Middle East.
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Nick Darrant, JP Morgan's head of CEEMEA debt capital markets syndicate, is leaving the bank after five years to join Citigroup as co-head of EMEA syndicate.