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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Abu Dhabi Commercial Bank returned to the dollar market on Tuesday and made a 50bp saving at the five year part of its curve. Middle Eastern spreads have come flying in over the past year and bankers said that the bond came at the tightest possible level. -
The Kingdom of Bahrain was on track to price the first dollar bond from the country this year on Tuesday, having released initial price thoughts for a 30 year bullet bond on Tuesday at low 6%.
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Emirates NBD announced on Tuesday a new tier one perpetual offering. However, the bond will not be Basel III compliant and therefore will not have a point of non-viability (PONV) feature.
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The Emirate of Sharjah opened books on a 10 year debut sukuk on Tuesday morning with the aim of pricing a benchmark deal on Wednesday. Some investors are expecting the issuer to price back of main comparable Ras Al-Khaimah (RAK), but Sharjah’s superior credit quality means a premium over RAK may not be necessary, said a debt banker on the deal.
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Emirates NBD announced on Tuesday a new tier one perpetual offering. However, the bond will not be Basel III compliant and therefore will not have a point of non-viability (PONV) feature.
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The Kingdom of Bahrain was on track to price the first dollar bond from the country this year on Tuesday, having released initial price thoughts for a 30 year bullet bond on Tuesday at low 6%.
