Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Even if ceasefire succeeds, investors will still want a risk premium
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
More articles/Ad
More articles/Ad
More articles
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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.
