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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Mubadala raised $1.5bn in the bond market on Tuesday with a dual tranche seven and 12 year deal, the deal was well subscribed but didn’t come as tight to the sovereign as Mubadala’s previous issue. -
Orders for Saudi Arabia’s debut sukuk were over $25bn on Wednesday morning allowing the borrower to tighten pricing ever closer to its conventional curve.
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Orders for Saudi Arabia’s debut sukuk were over $17.5bn at the first official update on Tuesday afternoon.
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Two large emerging market corporates were out with multi-tranche deals on Tuesday, Kazakhstan’s state owned oil company and Abu Dhabi sovereign investment fund Mubadala.
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Issuers from the Gulf have taken over emerging markets bonds with Saudi Arabia on track to print its debut sukuk on Tuesday. Multiple tranche deals are the flavour of the week with Romania, Mubadala and KazmunayGas all offering multi-faceted deals.
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Saudi Arabia was offering up a 20bp-25bp NIP over its conventional bonds at price talk for its debut sukuk on Tuesday, as banker’s debated where the deal will land relative to it’s conventional bond debut.
