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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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NMC Healthcare, the London-listed United Arab Emirates healthcare company, made its bond market debut in a week wracked by volatility. But despite the choppy backdrop, NMC’s debut came off smoothly. -
Dubai Aerospace Enterprise, the aircraft lessor 96% owned by state-controlled Investment Corp of Dubai, has closed a $720m loan with an international, rather than regional, syndicate, as Gulf borrowers continue to pivot away from local financing.
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Bahrain-headquartered Gulf International Bank has successfully increased and closed a $500m loan, the bank announced on Wednesday.
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Two emerging market borrowers had to postpone deals this week, thanks to volatility in the market. Naftogaz and Emirates NBD have had to put plans for their five year dollar benchmarks on hold.
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UAE-based Bin Butti International Holdings has launched its debut syndicated loan to refinance existing debt worth $500m.
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Despite commodity catastrophes and diplomatic discord, the Gulf is set to be one of the most promising regions for the syndicated loan market in coming years, with a number of projects in the pipeline and governments seeking to modernise their economies by diversifying their funding sources. Banks seeking long-term returns and future ancillary business should pay close attention.
