Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Even as USTs stay near 5%, supply expected to pick up
Elevated new issue premiums to battle issuer desire to avoid more volatility
◆ The threat of US corporate issuance to European borrowers ◆ The new funding environment for Middle East banks ◆ Reviving UK equity capital markets
As war drags on, banks are boosting hoards of cash after deposit outflows
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The United Arab Emirate's largest Islamic bank, Dubai Islamic Bank (DIB), is considering buying its smaller rival Noor Bank, according to bankers. The purchase would add to the string of M&A deals Gulf banks have pursued in the last two years, prompted by tougher regulation and a drop in oil prices. -
Bank are having to dig deep and increase their country lending limits to manage the vast amount of business expected to come from the Gulf as government expenditure across the region grows. The next big deal off the rank will be from Saudi Arabia's sovereign wealth fund, Public Investment Fund (PIF), which is expected to tap the loan market for a bridge loan of up to $11bn in coming months, bankers said, following its highly successful debut deal in September. Mariam Meskin reports.
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Dubai-based property firm Damac has raised £175m to finance the development of its first luxury real estate project in London, Damac Tower. The deal comes amid prolonged Brexit uncertainty and a slump in the UAE’s real estate market.
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Saudi Aramco might have expected a $12bn bond it issued on Tuesday to be hailed as a triumph, coming as it did well inside its sovereign curve after taking orders that at one point reached $100bn. But after pricing, the demand evaporated, the bonds fell below reoffer, and the notion that the European Market Abuse Regulation has ended the practice of order inflation was left in tatters.
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Mubadala, Abu Dhabi's sovereign wealth fund, is due to close a $2bn loan refinancing in coming weeks, according to bankers familiar with the deal.
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Saudi Aramco’s hotly anticipated $12bn bond was priced yesterday with the fanfare investors had expected. Demand for the deal was so large that the sovereign rallied 20bp as the deal printed, but stated final orderbooks of $92bn are being questioned as two investors say only the 30 year tranche is still bid above re-offer. The leads disagree, though, with one saying he saw all the tranches above their pricing levels.
