Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Only one Gulf issuer has printed a blue bond in the public market
Some say UAE central bank liquidity has prompted banks to retrench
Cracks emerge in underlying quality as banks appear to teeter further into cautiousness
The trade may persuade other top-tier GCC sovereigns that the public market is open
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More articles/Ad
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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. -
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.
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Dana Gas on Monday shelved an exchange offer to investors in favour of litigation, which the company warns could take 10 years to resolve, after members of an ad hoc committee of bondholders repeatedly refused to engage with the issuer.
