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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International Bank of Qatar (IBQ) has mandated three banks to arrange a debut benchmark dollar Reg S senior bond. The deal will be eagerly watched as it will be only the second senior conventional ME bank deal since June. -
National Bank of Oman has set initial price thoughts on a tier one perpetual note. Commercial Bank of Dubai’s new $400m five year senior deal, meanwhile, was down in the secondary market on Wednesday, but investors said the slide was down to wider market weakness.
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As Oman prepares to obtain a $1bn sovereign loan, Qatar is also in talks for a loan of as much as $10bn, although bankers think that target size could be reduced.
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Commercial Bank of Dubai is settling for a smaller print and wider spread than originally indicated on its latest five year dollar bond, according to rival bankers and buyers.
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The Sultanate of Oman will launch syndicated for its $1bn sovereign loan tomorrow (Wednesday), according to a banker on the deal.
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Middle East multilateral, Gulf Investments Corp (GIC) decided against proceeding with a dollar bond after finishing a roadshow. Liquidity in the region is falling, rating downgrades are looming and supply is likely to increase. Bankers should get used to borrowers balking at the final step — and not worrying about it.
