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The UAE bank capped the deal size at $500m, gaining some leverage over pricing
Attractive pricing versus dollars luring GCC borrowers back to the single currency
Investors are still showing big demand for the Dubai real estate firm's sukuk despite two sell-offs in a year
Wider currency mix helped meet demand for high grade paper with attractive yields from the region
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Emaar Properties’ real estate development unit has sagged in the aftermarket after it priced its Dh4.8bn ($1.3bn) IPO last week, amid heightened geopolitical risk in the Middle East and a general weakness in the IPO market.
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Lebanon's sovereign Eurobonds recovered some 60bp–120bp during the week ending Thursday, including a 25bp tightening on Wednesday morning, after prime minister Saad al-Hariri returned to the country in an apparent reversal of his recent resignation.
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Investors in emerging market bonds were in a celebratory mood this week as the asset class rallied back following losses last week.
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Citi has combined its Middle East and Africa (ex-South Africa) investment banking divisions and named a head for the new entity.
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Abu Dhabi National Oil Co has signed its $6bn debut syndicated loan facility with 13 banks. The deal was well received by banks, driving down pricing to new lows.
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Emaar Development, the real estate development unit of Emaar Properties, has priced its Dh4.8bn ($1.4bn) IPO below the mid-point of the initial range, valuing the business at Dh24.1bn ($6.6bn).