Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Tight price and strong book reported as market awaits geographic breakdown
Flood of AT1s expected to follow the first public trade from the Gulf in over two months
Announcements could come as early as Monday, the two month anniversary of the last public GCC trades
Islamic investors have been a safe haven for Gulf issuers in the past, and can be now
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Industrial and Commercial Bank of China (ICBC)’s Dubai branch wrapped up a stylish debut on May 18, selling a $500m five year bond. Encouraged by its success, ICBC Singapore opened books for a three year dollar bond the very next day. -
Dubai Islamic Bank has mandated six banks for a dollar Reg S benchmark sukuk.
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While most of the loan market speaks of a quiet patch, Middle East deals continue apace with bankers saying there are lots more deals to follow from several countries.
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Dubai’s DP World was the only CEEMEA issuer to step out this week, shaking off turbulent markets on Tuesday to take a $3bn book for its $500m trade. Bankers are hoping the tight print may encourage some of the two dozen or so issuers that have mandated and are waiting.
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DP World shook off turbulent markets on Tuesday to take a $3bn book for its $500m trade. While the borrower may have been pushed to issue to avoid blackout, pricing still came inside the borrower’s existing curve.
