Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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
The company has enjoyed two rating upgrades since its last sukuk issuance
Some price discovery needed due to sukuk format and long tenor
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The United Arab Emirates’ banking system is expected to more than double its credit growth next year, compared with 2017, with stabilising oil prices and international bond issuance set to support funding in the country.
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State-owned Abu Dhabi National Oil Co. (Adnoc) launched a $6bn debut syndicated loan this week after increasing the credit’s size and tightening pricing in response to banks’ hunger for it. -
Two Middle Eastern sovereigns this week showed the depth and breadth investor demand for EM credit this week, one with a high quality jumbo $10bn trade, and the other, junk rated, with a bold 30 year trade that took full advantage of ideal funding conditions.
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State-owned Abu Dhabi National Oil Co (Adnoc) has kicked off the syndication of its first syndicated loan for $6bn, after increasing its size and tightening pricing further in response to high demand for the facility.
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Global Education Management Systems (GEMS) Education of Dubai is to launch a $1.2bn syndicated loan, ahead of its planned initial public offering early next year.
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If it’s large, liquid and high grade, or small, obscure with a decent yield, it will fly. If it’s a repeat issuer, small in size, and tightly priced, it won’t. That is the status in EM according to debt capital markets bankers.
