GCC
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◆ Oil trumps politics ◆ Kuwait scores late winner ◆ How to save Thames Water harmlessly -
Issuer has set the stage for peers to return to public market
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The trade may persuade other top-tier GCC sovereigns that the public market is open
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The sovereign is focusing on price, not size
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Strong appetite from international banks for first gigascale 24/7 solar plant
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Buyers are tiring of Gulf capital trades after a busy first half
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Hires bolster M&A, ECM, and leveraged and acquisition finance teams
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More AT1 supply is coming as 2026 already approaches last year's volume
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The Saudi company's deal offered little — if any — new issue premium, says leads
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Gulf AT1 issuance is much higher than last year, tiring out investors
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The bank was set to price about 25bp over fair value
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The lender offered a premium of about 35bp to the top-tier UAE bank issuers
