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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The collapse of oil prices and blow-out of credit spreads for Dubai borrowers has got some loan bankers worried about the outlook for deal flow in the region. Project finance and loan repricing business is likely to take the first hit, they reckon. -
Dubai Islamic Bank proved that Middle East bond issuers can launch successful deals even in a difficult market, said syndicate officials on the $1bn tier one perpetual. But the structure made it difficult to discern what kind of new issue premium the borrower had paid, and the bond has traded down in the secondary market.
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Dubai Islamic Bank priced the Middle East’s first international bond of the year on Wednesday afternoon, after receiving more than $2bn in orders for a $1bn tier one sukuk.
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Dubai Islamic Bank proved that Middle East issuers can launch successful deals even in a difficult market, said syndicate officials on the bank's recent $1bn tier one perpetual. But the structure made it difficult to discern what kind of new issue premium the borrower had paid, they added.
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Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.
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Integrated Diagnostics Holdings, an Egyptian company that offers diagnostic services and radiology in Egypt, Jordan and Sudan, began premarketing on Tuesday for a London IPO — the first by an Egyptian company since 2008.
