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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International Bank of Azerbaijan is looking at the possibility of setting up an Islamic banking unit in partnership with a Gulf Co-operation Council bank, an official at IBA told IFIS. And Azeri corporates could be ready to issue sukuk as early as 2015 as the country moves to finalise an Islamic banking law by the end of this year. -
Emirates NBD has announced a roadshow for a perpetual tier one bond. But the bond will not be structured with the aim of being Basel III complaint, which sparked debate among bankers on and off the deal.
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The emirate of Sharjah will be ready to launch its debut sukuk next week after starting investor meetings on Wednesday. A Middle East market awash with liquidity will welcome the deal with open arms, but the issuer is still likely to offer a concession relative to the main comparable Ras Al-Khaimah, said one investor.
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Emaar Properties launched a long expected IPO of its mall unit on Monday, making it the first company to jump into what is expected to be a very busy autumn new issue market.
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Arcelik, a Turkish home appliances and consumer electronics company, has mandated BNP Paribas, Citi and HSBC for a euro-denominated Reg S bond. The deal will mark the first ever bond in the currency for a Turkish corporate.
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The Kingdom of Bahrain has mandated Citi, Gulf International Bank, Mitsubishi UFJ and Standard Chartered Bank to arrange a long dated benchmark Reg S/144A dollar bond.
