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Most recent/Bond comments/Ad
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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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Lebanon, already in the throes of a sovereign debt crisis before the coronavirus pamdemic, made its request for International Monetary Fund assistance last week. Although foreign investors welcomed it, the plan has already run into opposition at home, setting up an arduous path of negotiation.
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The Kingdom of Bahrain has mandated banks to arrange a dual tranche bond transaction that is set to test the depths of Gulf Cooperation Council (GCC) recovery in EM bond markets.
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Qatar National Bank issued its third bond of the year on Tuesday, pulling in $3.5bn of orders by the time it released guidance for a five year deal that affirmed the market access for the top tier names in emerging markets.
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The State of Israel executed its second $5bn bond of the month on Monday with an opportunistic Formosa print that showed an issuance route for other highly rated emerging market names.
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NMC Health, the scandal-hit UAE hospitals operator, has been delisted from the London Stock Exchange, after it was placed into administration by the UK High Court earlier this month following an application by creditors led by Abu Dhabi Commercial Bank. Equity capital markets sources reflect on the shocking saga.
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Saudi Aramco, the world’s largest oil company, is hunting for a $10bn loan, according to market sources. Plummeting oil prices will send borrowers across the Gulf scrambling to raise financing. But creditors seem happy to plough money into the region, for now. Mariam Meskin reports.