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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Investors this week showered orders on to the first bond issue from Teva Pharmaceuticals since a recent downgrade to high yield ratings. The hook? A 50bp-100bp premium over its old bonds in the secondary market. -
Bank Muscat has taken orders north of $1bn for its new five year Reg S dollar bond on Wednesday, allowing the leads to launch the deal at the tight end of final guidance.
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The government of the Emirate of Sharjah priced its $1bn 10 year sukuk issue with no new issue premium on Tuesday — the first deal from its new MTN programme as it moves to become a more regular issuer in the international bond markets, said Tom Koczwara, director of the debt management office.
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Abu Dhabi-based Union National Bank has distributed more than 50% of its $500m five year bond outside the Middle East, bucking the recent trend for more locally distributed bonds, according to a banker on the deal.
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Emirates Airlines has named leads for its first unsecured bond since 2013, adding the region’s first international non-financial corporate sukuk this year to what has so far been limited supply from the asset class.
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Dare Holdings, formerly Anoa Capital, is trying to escape its role as a remarketing agent on the troubled EA Partners I and II bonds issued by Etihad — and backed, unfortunately, by stakes in insolvent Alitalia and Air Berlin.
