GCC
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Turkish lender Vakifbank has signed a three year bilateral loan agreement with ICBC’s Dubai branch for $250m. -
Qatar Re has emerged with pricing for the first ever hybrid from a Gulf insurer following the conclusion of a three day roadshow on Friday.
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Even as some investors fretted about Oman’s economic welfare, a stampede of orders into the country's $5bn triple tranche deal on Wednesday augured well for the hefty sovereign issuance to come from Gulf sovereigns this year — the next of which has a bigger deal to do and arguably a better tale to tell in the process, one it will tell next week. Lucy Fitzgeorge-Parker and Virginia Furness report.
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Perpetuals are aplenty in the Gulf Cooperation Council (GCC) with Qatar Reinsurance and Warba Bank lining up trades for next week after top corporate GCC corporate Majid Al Futtaim (MAF) accelerated pricing for its hybrid note on Wednesday. The yield pick-up offered by perpetual products is a no-brainer for investors in the low rate environment, say bankers in the 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.
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Concerns about rising public debt levels in Oman failed to deter bond buyers on Wednesday as the Gulf sovereign amassed $20bn of orders for its triple tranche dollar market return.
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Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.
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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.
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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.
