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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Oman Oil wants to refinance the $1bn tranche from a $1.85bn loan it took out in 2014, adding to the company’s much wider financing plan, according to a banker on the deal. -
Kuwait Energy, the independent Kuwaiti oil and gas company, is to test investor appetite towards the recovering energy sector, having announced the launch of its long awaited IPO on the London Stock Exchange on Wednesday morning.
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The bond pipeline in CEEMEA is light with only well flagged borrowers opening books in a week that is peppered with data points and political risk events.
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Orders of over $1.5bn enabled Saudi Arabia’s ACWA Power to squeeze down guidance for its amortising note on Wednesday.
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Despite a public holiday on Monday and the second round of the French presidential election due this Sunday, the IPO market is vibrant, with two more names joining the pre-summer pipeline so far this week.
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Middle Eastern governments and companies rose to the financing challenge set by falling oil prices in 2016, rethinking their operations, cutting costs and turning to the international bond markets in committed fashion to plug funding gaps. Issuers in the Gulf Cooperation Council countries raised $66bn last year, and this year’s first quarter total of nearly $25bn suggests issuance will be similarly high in 2017.
