GCC

Sharjah Islamic Bank’s sukuk trade on Tuesday showed that emerging market bond investors are eager to buy the right FIG paper, which has been lacking from recent new issuance.

Saudi Aramco, the world's largest oil company, has finalised its acquisition of Saudi chemicals company Sabic in a $70bn transaction. The final amount plus loan fees is set to be paid to the former owner, the Public Investment Fund (PIF), over eight years.

Saudi Arabia real estate financing company Amlak has announced the first IPO on the Tadawul stock exchange since the onset of the global Covid-19 pandemic.

First Abu Dhabi Bank bagged Rmb1.4bn ($198m) on Monday from its largest offshore renminbi bond to date.

First Abu Dhabi Bank (FAB) has decided to call an additional tier one deal, the coupon of which was due to drop in its favour. The move goes against the grain of the borrower's Gulf peers.

Saudi Arabia is set to raise its inaugural green loan with export credit agencies next month. The groundbreaking loan would be the first of its kind in the Middle East.

Rating: Aa2/AA/AA

The Emirate of Abu Dhabi took full advantage of a ready and willing investor base on Tuesday looking for high quality emerging markets to buy in the coronavirus pandemic, driving down pricing on a triple tranche tap to levels that leads saw as 5bp inside the issuer's own curve.

The Emirate of Abu Dhabi made a swift return to bond markets on Tuesday just six weeks after it printed a $7bn triple tranche trade, tapping that same deal.

Rating: Aa2/AA/AA

Mamoura Diversified Global Holdings took full advantage of fast-building momentum behind Gulf issuers on Tuesday, when it printed a $4bn triple tranche trade that won $23bn of orders.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.