Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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Gulf supply remained the dominant theme in CEEMEA bonds again this week as markets reopened in buoyant mood after Monday’s US holiday.
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Kuwait's Burgan Bank emerged with initial price thoughts for an inaugural senior dollar deal on Tuesday morning. -
Bond supply from the Gulf Co-operation Council (GCC) region could resume as early as Tuesday as bankers reported positive feedback from two sets of investor meetings.
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Aluminium Bahrain (Alba) has increased the size of its seven year loan from $750m to $1.5bn after strong demand in syndication, said one banker on the deal.
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The first deals of what is set to be an autumn glut of bond supply from the Middle East suggest many investors have forgotten about a host of fear factors, including some at the heart of the region’s rocketing international debt funding needs this year. But market participants are wary of the effect of a huge print due from Saudi Arabia, writes Virginia Furness.
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Sharjah Islamic Bank raised $500m with a five year sukuk on Thursday to take advantage of the interest in Middle Eastern assets.
