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
More articles/Ad
More articles/Ad
More articles
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Oman Electricity Transmission Company seems to have timed it right for a $500m 10 year trade just days before a likely sovereign downgrade, with the issuer managing to price its deal well inside where analysts spotted fair value. -
Oman Electricity Transmission Company timed it right for a $500m 10 year trade on Tuesday just days before a likely sovereign downgrade, with the issuer managing to price its deal well inside where analysts spotted fair value.
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New deals from the Middle East and Africa are beginning to flow as EM’s hot run gathers momentum. In the Gulf Cooperation Council, Saudi Electricity Co (Seco) and Oman Electricity Transmission are exploring dollar opportunities as Abu Dhabi Commercial Bank plots a comeback. Further south and west, Senegal has picked leads for a dollar comeback as the market awaits the results of Ivory Coast’s RFP.
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Saudi Arabia’s ACWA Power priced its long awaited debut bond on Wednesday, raising $814m with the secured note. Months of work spent structuring the deal and educating investors were rewarded, with the borrower achieving a combination of size and price it would not have managed with a plain vanilla bond, said a lead banker.
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Oman Oil is set to bring a raft of financings to the syndicated loan market, and has begun by seeking to refinance the $1bn tranche from a $1.85bn loan it took out in 2014.
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Bahrain’s Arab Banking Corporation decided to repay its $750m loan ahead of its maturity due to an increase in its liquidity, allowing it to avoid further interest payments.
