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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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. -
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.
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Equate Petrochemicals was on track to sell a dual tranche five and 10 year dollar note on Thursday, talking the bond with ample spread which suggested the issuer is planning a sizeable trade, thought one emerging markets banker.
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Jordan made its second standalone entry into the international markets on Monday with a $1bn 10.25 year. The sovereign used Saudi Arabia’s international bond success last week and its index eligibility to grind in pricing to pay a negligible new issue premium.
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Several loans from Omani credits are being tipped to be launched this year, but, after several large deals, some bankers have concerns that lending appetite is waning.
