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Investors piled in orders more than four times trade’s size
Premium to dollars was in the high single digits, said a lead
The UAE bank capped the deal size at $500m, gaining some leverage over pricing
Attractive pricing versus dollars luring GCC borrowers back to the single currency
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Four European lenders have turned down a $2bn loan for National Bank of Abu Dhabi (NBAD), while local banks are starting to return to secondary markets for the first time in a year — signs that the Middle Eastern loan market could see a different set of banks driving it in 2017. Elly Whittaker reports. -
Equate Petrochemical Company, the Kuwaiti energy firm that made its global bond market debut in October, is on track to become only the second borrower from the jurisdiction to issue in sukuk format.
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NMC Health, the London-listed company that claims to be the leading private sector healthcare operator in the United Arab Emirates, raised £255.4m on Wednesday in an intraday equity bookbuild.
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National Bank of Abu Dhabi signed a $2bn three year loan on Tuesday, cementing the bank group for its $175bn merger with First Gulf Bank, though some key European banks turned down a role on the deal.
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Etihad Airways has issued the first ever Schuldschein for a Middle Eastern company, increasing the deal from €150m to €209m in syndication with strong demand from European and Asian commercial banks.
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A busy weekend for Chinese authorities as seven new currencies were named to be traded directly with the renminbi, the dollar fix breaks 6.9 again on Monday, and a clearing bank is appointed in Dubai.
