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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Ithmar Capital sold an £88m stake in Abu Dhabi healthcare firm Al Noor on Wednesday night, taking the first opportunity since a lock-up period ended just before the summer lull to further reduce its stake. -
Sharjah-based natural gas company Dana Gas has secured a $100m term loan, including a Shariah compliant tranche, for the Zora Field development project.
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Emirates NBD launched a $500m perpetual bond on Wednesday afternoon having received over $1.3bn in orders for the old-style Basel II compliant note.
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The Kingdom of Bahrain will price its 30 year transaction at a yield of 6% on September 10. The offering is the first dollar bond from the country this year.
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Middle Eastern credits have a monopoly on CEEMEA bond sales this week, with Abu Dhabi Commercial Bank (ADCB), Emirates NBD, the Emirate of Sharjah and Bahrain all jostling for investors’ attention.
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The Emirate of Sharjah sold a $750m inaugural sukuk off a $7.8bn order book on Wednesday. The borrower brought in a host of conventional accounts in addition to a strong local bid, and watched its bond tighten 6bp in the secondary market despite pricing some 20bp-45bp inside the curves of regional comparables, according to debt bankers on the deal.
