GCC
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Deal makers have been encouraging the region's governments to develop a liquid blocks market after its IPO boom -
Extremely tight spreads led to a large number of orders pulling out
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Only Israel and Egypt have sold green bonds in the Middle East until now
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Deal is latest in busy series of flotations in Saudi Arabia
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The trade is the first sustainable AT1 from a Gulf bank
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After a deluge of state backed IPOs, next on bankers’ wishlist for the region is a liquid blocks market and more privately owned company IPOs
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There has not been any investment grade issuance for a year
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The IPO pipeline in the region has been dominated by state owned enterprises but that could change
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Trade prices inside the curve of Abu Dhabi peer Mubadala
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Privately owned Dubai supermarket group is set to begin trading next week
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Only Saudi banks provide facility, as Western banks say the lack of ancillary opportunities makes the business case difficult
