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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A 12 month roller coaster ride for US rates expectations has ended with the 10 year Treasury yield back where it started, and in the meantime the CEEMEA bond market has been turned on its head for completely unrelated reasons.
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International Bank of Qatar (IBQ) has priced a $500m five year debut international bond deal. Although the lender hit its target on size, it became the fourth Middle East issuer in row to price a deal at the same level as initial price thoughts. -
International Bank of Qatar (IBQ) opened books on a five year conventional debut deal on Wednesday morning as the Middle East keeps primary market supply running.
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Bahrain took $1.5bn from a dual tranche deal this week. But despite the unusual size of each tranche and the lack of price tightening, rival bankers kept their knives sheathed in recognition of how difficult the Middle East market has become.
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Commercial Bank of Qatar is in the final stages of syndicating its $800m refinancing. More banks from the region will follow with loans with margins of around 100bp, according to bankers.
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Teva Pharmaceutical Industries “just scraped home” with very tight pricing on the $33.75bn loan it signed on Monday. Only around half the banks invited participated because margins were so tight, said a banker close to the deal.
