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
More articles/Ad
More articles/Ad
More articles
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Middle Eastern loans burst open in the fourth quarter of 2015, with deals aplenty for corporates, banks and sovereigns. The deal flow will not ebb this year, but pricing will rise and international lenders will play a bigger role, replacing local lenders. Elly Whittaker reports. -
For a region often embroiled in political unrest, the Middle East’s bond market has historically been one of the most emerging economies. But 2015 was the year the drop in oil prices truly inflamed fears about the impact for capital markets issuance — the bond market will be there for Middle East borrowers in 2016, they just might not like the pricing Steve Gilmore reports.
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Sharjah has become the first CEEMEA issuer to brave the bond markets this year, mandating six banks for a Reg S-only dollar sukuk roadshow and defying sceptics who said earlier this week that Middle East issuance would be postponed as geopolitical tensions in the region escalated.
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A $275m five year loan for US-based private equity firms General Atlantic and Warburg Pincus received “massive oversubscription” from a small group of Middle Eastern banks hungry for yield as their cost of funding rises, according to a banker on the deal.
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Low oil prices and the absence of its biggest lender will see the global sukuk market shrink further in 2016 though a couple of brand new issuers are expected, according to Standard & Poor’s.
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Oman is finalising a $1bn sovereign loan and could sign as early as tomorrow (Thursday), according to a banker on the deal.
