GCC
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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. -
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.
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Oman, looking to extend its curve by just over 20 years, will hit the road on Friday. Technical factors underpinning the market are expected to propel the trade despite underlying questions about the Sultanate’s ability to manage its budget deficit.
