GCC
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The note priced with no issue premium, agreed observers -
The company is offering about 25bp of premium to the Saudi sovereign curve
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Goldman Sachs only Western bank on $860m-equivalent deal
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Heavy local demand for dollar benchmark, but international appetite for AT1 may have improved
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Observers expected the oil company's deals would be priced close to the Saudi sovereign's curve
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Book of over $7.5bn prompts enlargement
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Book shrank by $700m after the issuer squeezed spread
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Deal could raise $900m, more Gulf sell-downs are expected
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CP programme launched over the summer
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Demand was over $2bn for Dubai firm's first green trade
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CBQ sells first international bond for over a year
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Saudi bank issues first international AT1 to 'great' pricing
