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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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With just over three weeks to go until Easter, the latest wave of IPOs in EMEA is progressing well. One deal was priced on Tuesday and bookbuilds have begun for two more.
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Lebanon took orders of nearly $18bn for its largest ever bond on Monday and quality international participation was seen in a book that remained dominated by local accounts, according to bankers on the deal.
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Qatari real estate developer Ezdan Holding has picked banks to arrange its second sukuk.
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The encouraging tone for EMEA IPOs has extended into Tuesday with a rare and successful real estate investment trust listing in the United Arab Emirates, for ENBD Reit.
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Lebanon was on track to print a triple tranche bond at the long end of the curve on Monday, having announced price talk first thing.
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National Bank of Abu Dhabi revealed its new capital markets leadership on Thursday, following the bank’s merger with First Gulf Bank.