Most recent/Bond comments/Ad
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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Sukuk’s advantageous pricing for borrowers over conventional bonds in recent years has evaporated in the Gulf – leaving only disadvantageous structuring costs in the Islamic market – but it does not follow that sukuk volumes are going to disappear too. Far from changing tack to bonds, for those who can issue both the rationale to favour sukuk is stronger than ever.
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CEEMEA bankers are dusting off their Bloomberg terminals in preparation for a resurgence of new issue business next week. DCM and syndicate officials' most conservative estimate for the number of new CEEMEA issues that will be printed next week was three and the most bullish was seven.
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Real estate developer Dubai Investments Park will start a roadshow on Sunday for its debut issue as it aims to bring the first dollar sukuk from the Middle East of 2014, despite two weeks of volatile markets. The firm is planning a $300m five year sukuk.
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Financial markets were buffeted by gusts of risk-aversion this week, and there was only one mainstream high yield issue in Europe. But the market was not in hiding — the lack of supply and further fund inflows stoked demand. -
United Arab Emirates real estate developer Dubai Investments Park is planning its debut $300m five year sukuk. The firm has set dates for a roadshow, starting on Sunday, to bring the first dollar sukuk from the Middle East of the year, despite a selloff in emerging markets over the last fortnight.
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Emirates NBD has hired Jonathan Morris as the group’s general manager of wholesale banking and member of the group’s executive committee.
