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Most recent/Bond comments/Ad
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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 National Bank of Oman has mandated banks for its debut international offering and will meet investors this week. -
Burgan Bank has finally announced initial price thoughts for its debut Basel III compliant additional tier one (AT1) deal a full two weeks after meeting investors. Bankers away from the trade say it is likely that the Kuwaiti bank was put off coming sooner by Emirates NBD’s deal's poor performance in secondary markets.
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The Islamic Development Bank (IsDB) pierced its secondary curve on Thursday with a $1.5bn five year deal. IsDB is an established sukuk seller unique in its combination of regular benchmark issuance, triple-A ratings and Islamic operations. But the bank is still enjoying an impressive progression of tightening primary spreads that has now erased any hint of new issue concession.
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A fresh wave of sukuk this week made September the biggest month ever for international sales of the product. But debut deals from Goldman Sachs and the Republic of South Africa have implications that go far beyond issuance records. These landmark transactions have paved the way for Western firms and African issuers to add their names to the expanding market.
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Emaar Malls began bookbuilding on its up to $10.3bn IPO on Sunday, hoping to command a premium to its net asset value through the deal.
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The Islamic Development Bank (IsDB) priced a $1.5bn five year sukuk on Thursday afternoon, taking international sukuk issuance for a single month to a new record.
