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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This week brought the first of an expected rush of loans for Middle East banks, while Iraq is seeking a bond deal. Low oil prices mean a need for capital in the region, but it is not time for international dealers and investors to stampede there just yet.
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Etihad Airways, in search of a platform from which to fund itself and its subsidiaries, has turned to the bond market’s financial laboratory and come up with a unique structure that has emerging market investors doing some serious credit work.
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Lebanon has sent out its request for proposals for a new Eurobond, just as Moody’s warned that political protests reflect growing instability that could hit economic growth and confidence in the banking system.
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The Republic of Iraq started a five day roadshow on Thursday, ahead of what would be its first international bond deal in almost a decade. But some buyers and bankers away from the deal suspect only a sub-$1bn deal with a double digit yield will be possible.
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A flood of banks in the Middle East are set to follow the two Abu Dhabi names which are making a dash for cash in the loans market to meet new regulations as they grapple with low oil prices, writes Elly Whittaker.
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Debt bankers close to Etihad Airways’ structured bond deal are expecting investors to ask for a 50bp premium on top of the fair value yield, while interested fund managers have started price analysis in earnest.