GCC
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Rare borrowers Burjeel Holdings and Avilease also marketing deals -
Book coverage ratio was in the same area as Gulf banks' pre-Iran war euro issuance
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Like another Gulf AT1 last week, this trade may not say much about international interest in the region's issuance
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Bank's $1bn sukuk continues the AT1 deluge despite resumption of air strikes
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The bank exercised a call date a month ago and has another late this year
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Sovereign bond print went ahead despite missile and drone attacks just before pricing
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DLT expertise will be needed as markets are modernised
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Books on the dollar deal opened just hours after Iran attacked the country
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The investment vehicle, led by BlackRock, will issue more bonds in future
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Book coverage ratios have also risen as sentiment improves in CEEMEA bond market
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The duo were the first AT1s from the GCC since Emirates NBD's reopener in April
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Books were more than double the deal's size at launch
