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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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.
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With 65m people displaced worldwide, the refugee crisis can seem insurmountable. But despite this daunting scale, initiatives are being tried that could help some of those affected. Citigroup’s charitable foundation is giving $2m to a project to train refugees for the job market and entrepreneurship, in Greece, Jordan and Nigeria.
