Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Some say UAE central bank liquidity has prompted banks to retrench
Cracks emerge in underlying quality as banks appear to teeter further into cautiousness
The trade may persuade other top-tier GCC sovereigns that the public market is open
The sovereign is focusing on price, not size
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Saudi Electricity Company issued a $2bn dual tranche Sukuk bond on Thursday, an issue which gathered $7bn of demand. -
September has been the busiest month for the Middle East bond market since April, and with the deals so far largely seen as successes, bankers say there is plenty more pent-up deal flow.
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Al Ahli Bank of Kuwait revived its AT1 on Wednesday, having postponed the deal following a roadshow in March this year. But a modest deal size priced in the middle of final guidance left bankers away from the deal saying appetite did not look overwhelmingly strong.
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Saudi Electric has become the latest issuer from the Middle East to pile into the market this week, releasing guidance for a dual tranche sukuk. Combined books for the note are over $3bn.
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Islamic Development Bank printed its $1.3bn five year Reg S sukuk on Wednesday inside its own curve.
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Dubai headquartered DP World on Tuesday sold the largest bond from the Middle East so far this autumn — a quadruple tranche multi-currency bond — but supply from the region is still lower than bankers have been expecting.
