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The bank tightened a little more than a UAE peer did on Tuesday
The euro tranche is a refi of a bond maturing later in September
Proceeds expected to go towards growth, including expanding what the company says is Africa’s biggest refinery
Data
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Sukuk issuance from the company's corporates will stay low, however
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OQEP was 2.65 times covered with 50-50 allocation to international and local investors
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Large deal size one of a number of reasons borrower offers new issue premium
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Deal received ‘substantial’ interest from both local and international investors
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Books were nearly double the $300m deal size
Sub-sections
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa