Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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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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South Korean construction firm SK Engineering & Construction Co has signed a $100m loan for general corporate purposes from three Middle Eastern banks.
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The People’s Bank of China (PBoC) and the Central Bank of United Arab Emirates have signed a memorandum of co-operation to set up renminbi clearing arrangement in UAE. At the same time the region is set to get its first RQFII quota.
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The crunch is coming. The Middle East loan market has long offered low margins and lashings of liquidity but pricing is widening, just as issuers flock to the market in droves, writes Elly Whittaker.
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Qatar's Doha Bank signed a $575m two year loan on Thursday, increasing the deal from the launch size of $500m.
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Commercial Bank of Qatar signed its $1bn loan refinancing on Wednesday, increasing the deal from $800m in syndication. However, bankers said it was fortunate to have got the deal done before Middle Eastern loan margins rise.
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Kuwait petrochemicals firm Equate has delayed signing $6bn of loans until next week because the firm’s board members are still waiting on approvals, said bankers.