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International investors take most of the book for the first time as Zabłocki's investment firm says it expects to make no further sales
Despite rough market conditions and angst over rates, array of deals have been well taken
It is difficult to see issuance conditions growing much better in the foreseeable future
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Saudi Aramco’s jumbo IPO is taxiing towards take off, though the timing and any co-listing locations along with Riyadh have yet to be revealed. London and New York’s exchanges are eager to host a co-listing, with Toronto, Hong Kong and Singapore also in the frame for what promises to be the biggest ever IPO, valuing the company at $2tr. -
Investors in South African bonds have bought on the dip because, even as the country’s economic outlook deteriorates, the only way for bonds is up. But positive reinforcement of the country’s poor governance and deteriorating economy reduces the incentive to reform and only postpones what will be a bigger investor stampede for the exit when the time comes.
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Oman Telecommunications is expected to sign a $2.2bn loan in the coming weeks to finance its acquisition of a 21.9% stake in Kuwaiti telecoms company Zain Group.
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The IPO of Adnoc Distribution, the petrol stations business of Abu Dhabi’s state oil company, was covered at its base size, three working days into the bookbuild.
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Russian energy company Gazprom has signed a €1bn loan in Tokyo with a trio of banks, adding to its repertoire of funding tools this year.
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An experienced emerging markets bond trader, who left Investec Bank in January as part of the South African bank’s bond business cull, is joining Stifel, according to two sources.
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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
