Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Investors are still showing big demand for the Dubai real estate firm's sukuk despite two sell-offs in a year
Wider currency mix helped meet demand for high grade paper with attractive yields from the region
The company has enjoyed two rating upgrades since its last sukuk issuance
Some price discovery needed due to sukuk format and long tenor
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A week that started with a panic about the potential for conflict between Iran and the US appeared to end with capital market issuance conditions so good as to be marked “10 out of 10”. As the loan market defied Middle East risk, borrowers and bond bankers are gearing up for a week ahead of huge issuance, while equity bankers are ruing missed opportunities. Sam Kerr, Mariam Meskin and Francesca Young report. -
The State of Israel printed a $3bn dual tranche dollar bond on Thursday from a combined book of $20bn, helping to buoy confidence in the CEEMEA market as US-Iran tensions faded. The bond was Israel’s largest ever deal and its tightest price in terms of spread.
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Two major insiders offloaded £375m of stock in NMC Health, the troubled UAE-based private healthcare company to cover debts on Tuesday. The share sale, which was priced at a 19.7% discount to close, came weeks after a short selling attack on NMC Health by US activist hedge fund Muddy Waters, which caused the company to lose more than half of its market value.
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Equity investors were hopeful that the tension between the US and Iran will lessen after the latter responded to the former's assassination of its military commander Qasem Soleimani with a limited tactical strike against US bases in the Middle East.
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Equity market participants were stunned last Friday after the US assassinated Iranian general Qasem Soleimani. It followed what had been a strong end to 2019 in the market with many hopeful the momentum would carry into this year. But banks and investors need to be prepared for shocks, especially as domestic pressure on US president Donald Trump increases in the run up to November's election.
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Robert "Bob" Fernandez, a veteran of EM debt capital markets, has joined Saudi Aramco's treasury.
