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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Turkey's Garanti Bankasi has signed a $1.5bn-equivalent one year syndicated loan. -
Majid Al Futtaim and Abu Dhabi National Energy Company (Taqa) have continued the theme of United Arab Emirates borrowers issuing longer term paper, with both firms looking to price 10 year bonds on Tuesday.
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Genel Energy, the largest independent oil producer in the Kurdistan Region of Iraq, is planning to issue $400m in bonds that will mature in 2019. The global roadshow for the deal finishes at the end of this week.
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Dubai-based lender Emirates NBD is set to sell its debut Kangaroo bond on Wednesday, following two other Emirati issuers which sold Kangaroo deals in March.
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Morocco’s parliament has delayed a vote on its draft Islamic banking bill but will hope to reach a decision by next week, said Mohamed Al Ghazwani, advisor to the standing parliamentary committees for finance and economic development.
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Having been labelled ‘toppy’ in some quarters last week after a quick-fire 15 year sovereign sukuk, there is no sign of a retreat this week from Dubai or its neighbour Abu Dhabi. Investors have set aside nerves once again and scampered to fill their shopping carts with Majid Al Futtaim and Taqa 10 year bonds. Then again, there are plenty of reasons to brush off toppiness for now and say Dubai ain’t all bad.
