Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Funding costs and new issue premiums are much higher than GCC issuers are used to
Senior banker will move to Abu Dhabi to take up position
Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
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The State of Israel opened books on Wednesday for a dual tranche dollar note that will extend its curve by an extra five years. -
Oman has hit the screens with a copycat trade of its 2017 triple tranche $5bn note, navigating a more volatile market than it may have hoped for after a back-up in US Treasuries on Tuesday.
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Qatar National Bank (QNB) launched a $3bn loan on Monday, the first real test of the market since Qatar’s Gulf Cooperation Council (GCC) neighbours severed diplomatic ties with the sovereign. Nine banks have agreed to underwrite the full amount ahead of general syndication, showing initial fears have subsided. But the test is not over — will Qatar’s other relationship banks step up?
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Two banks from the Gulf Corporation Council (GCC) have turned to Taiwan to raise dollar funding already this year, with Abu Dhabi Commercial Bank (ADCB) printing $540m and Qatar National Bank (QNB) printing $720m in Formosa trades.
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Oman Gas Co, Oman’s midstream natural gas transportation company, is expected to sign a $1bn loan with a club of banks.
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Abu Dhabi Energy Co (Taqa) has signed a $1.25bn loan with a small club as some banks were deterred by the deal’s tight pricing.
