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 Hashemite Kingdom of Jordan served plenty of yield up to investors on Monday, proving that it is not just the double-A rated names which enjoy access to long dated funding in emerging market bonds. The deal traded up two cash points on Tuesday which drew a mixed response from market participants. -
Middle Eastern banks are diversifying their funding portfolios by entering the international syndicated loan market for the first time, with Bahrain Islamic Bank (BisB) signing a deal at the end of September and two more due to sign this month.
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Abu Dhabi was on track on Tuesday morning to print the second blowout trade from the Gulf in a week following Saudi Arabia's $12.5bn sale last Wednesday. It was also able to drive pricing through Saudi Arabia’s secondary curve, having taken orders of $30bn.
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Shares in Hapag-Lloyd, the German container shipping line, are holding up well as the subscription period for its €352m rights issue begins.
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Intercontinental Exchange (ICE), an operator of exchanges and clearing houses, on Monday announced clearing services for CDS referencing Saudi Arabia, as well as for a host of emerging market and Asia-Pacific corporate single names.
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With some $27.5bn of orders going unallocated in the Saudi Arabia's order book last week, the market is awash with liquidity — much of which has a proven interest in the Gulf. Abu Dhabi has wasted no time in trying to build on Saudi’s success, opening books on its own triple tranche bond offer on Monday.
