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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Dubai’s state-owned energy group Emirates National Oil Co (Enoc) has secured a $500m revolving credit facility from a club of seven banks to fund its growth plans for Dubai's coming Expo 2020. -
Iraq made an impressive return to the capital markets on Wednesday with a perfectly timed trade that enabled the issuer to leverage off its recent military success in Mosul, support from the IMF and higher oil prices to borrow five year money below 7%.
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On Wednesday, the UK’s Institute of Directors, the organisation that represents company directors and business leaders, became the latest lobby group to voice its concern at the Financial Conduct Authority’s proposal to create a new premium listing category for sovereign-owned companies.
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Iraq had revised pricing to 7% area for its long awaited dollar bond on Wednesday after the low-7% starting point prompted debate among deal watchers.
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With a dearth of supply in emerging market bonds this week, investors have been keenly awaiting the arrival of Iraq's first public bond for more than a decade.
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Not only is Iraq expected to have the sole attention of the market when it opens books for its new bond on Wednesday, but it will offer investors a rare chance to lock in government debt at a decent yield in a market more barren than the Atacama Desert. In short, bankers are expecting a blowout.
