Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Kuwait joins PP party
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
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There is no doubt that Saudi Arabia’s $17.5bn bond placement last week was a success. But while the country’s Vision 2030 plan is an attractive narrative, it is too simplistic to think of it as a handbook to economic recovery. Investors should be wary.
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Two Middle Eastern issuers brought successful bond issues this week, catching the coat-tails of Saudi Arabia's success to print $3.25bn between them.
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Abu Dhabi airline Etihad Airways has launched a Schuldschein for €150m denominated in euros and dollars, the first ever for a Middle East borrower, according to one market participant. -
Saudi Electricity Company has signed a $420m loan from Crédit Agricole and Santander as growing domestic funding needs open up more opportunities for international banks.
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Equate Petrochemicals drew orders of $5.5bn for its first dual tranche dollar bond on Thursday. The issuer opted for a two day execution to allow investors plenty of time to win credit approvals and place orders, according to bankers.
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National Bank of Abu Dhabi is syndicating a $2bn term loan to replace bilateral loans. The UAE bank is paying more for the longer dated syndicated deal, though the latest pricing is still “aggressive”, according to one banker.
