Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
The Iran war has led to a flurry of private trades from the Gulf
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
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Dubai Airports has signed a $3bn syndicated loan to finance the expansion of its Dubai International Airport and Dubai World Central Airport, also known as Al Maktoum International Airport, in Jebel Ali, in preparation for the World Expo 2020. -
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.
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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.
