Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Announcements could come as early as Monday, the two month anniversary of the last public GCC trades
Islamic investors have been a safe haven for Gulf issuers in the past, and can be now
Kuwait joins PP party
The Iran war has led to a flurry of private trades from the Gulf
More articles/Ad
More articles/Ad
More articles
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The Kingdom of Bahrain has returned to tap bonds less than a week after an unexpected Standard & Poor’s downgrade led to the issuer cancelling a $750m dual tranche bond increase. Rival bankers said the strategy was right, but were surprised by the tight pricing offered. -
A run of loans for highly-rated Middle Eastern government related entities (GREs) is expected to shape the year for Gulf loans.
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Bahrain’s decision to pull its $750m tap on Thursday was hailed by some as a prudent move to protect investors, but aggressive secondary market action following the downgrade has still left some smarting, writes Virginia Furness.
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Bahrain joined Poland this week in the dubious honour of being downgraded by Standard & Poor’s after the pricing of a new bond but before settlement.
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Bahrain took the decision to pull its $750m tap on Thursday morning after a shock move by Standard & Poor’s to downgrade the sovereign to junk. Bankers on the deal have criticised S&P for its “clumsy” timing.
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As the Middle East's banks face rising funding costs, one is arranging what it describes as a mezzanine loan for a Gulf schools operator in a drive for juicier loan margins.
