GCC
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Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans. -
Dubai-based property developer Majid Al Futtaim (MAF) received a warm welcome from international investors on its return to the hybrid dollar market on Tuesday.
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Books opened on Wednesday on the year’s first bumper Gulf sovereign deal, a triple trancher from Oman that is expected to raise at least $2bn and extend the borrower’s curve by more than 20 years. But an even bigger sovereign deal from the Gulf is waiting in the wings.
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Warba Bank is on track to become the third Kuwaiti lender to raise capital via the sukuk market following the announcement on Tuesday of plans for a global roadshow.
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Bank of Sharjah emerged on Tuesday with pricing for its delayed five year senior dollar market return.
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Dubai-based property developer Majid Al Futtaim (MAF) emerged with pricing for a new subordinated perpetual bond on Tuesday morning after just one full day of a planned two day roadshow.
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Hong Kong’s stock exchange and Saudi Arabian energy company Saudi Aramco are potentially a match made in heaven, according to the bourse's chief executive officer Charles Li.
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The first ever Eurobond from a Gulf Co-operation Council (GCC) insurer could emerge as early as next week after Qatar Re announced plans for a global roadshow.
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The UAE’s Majid Al Futtaim will begin investor meetings in Asia next week for a subordinated perpetual bond, the first from the Middle East this year.
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GCC sovereign issuance began in earnest this week with Bahrain raising $600m and Oman mandating banks for a triple tranche deal. As Virginia Furness reports, the two deals mark the beginning of what will be a defining year for the region’s borrowers in the international capital markets.
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Oman has named seven banks to arrange an Islamic bond which it will bring to market shortly after the close of its planned triple tranche conventional bond, according to sources.
