GCC

Saudi state TV has set a date for the elusive Saudi Aramco IPO, talked up for more than three years — and it’s next week. The deal’s already threadbare rationale might dissolve at the first hint of scrutiny, but it’s too embarrassing to ditch it now.

Mamoura Diversified Global Holdings (formerly Mubadala Development Company) has released initial price guidance for its dollar triple trancher at levels a rival syndicate official said looked fair, and included another 30 year bond from the region in just over a month.

Masraf Al Rayan, the second largest Islamic bank in Qatar by total assets, is embarking on a roadshow for its debut outing in the international sukuk market.

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Majid Al Futtaim, the Middle Eastern shopping mall developer, came to market on Wednesday for a Reg S long 10 year sukuk, one day after Saudia Arabia won a $13bn order book for its own deal in the format.

After another delay to the IPO of Saudi Aramco, Saudi Arabia’s crown prince Mohammed bin Salman (MBS) may have to accept that international fund managers may never value the kingdom’s prize asset as much as its royal family does, but local investors just might.

The Kingdom of Saudi Arabia is tapping hard currency debt markets for the first time since Fitch hit it with a downgrade, launching a $2.5bn sukuk on Tuesday.

Middle Eastern shopping mall developer Majid Al Futtaim is holding investor calls this week as it eyes another green sukuk deal.

The UAE's Emirates Water and Electricity Co and Saudi Arabia's Acwa Power have secured loans of Dh2.71bn ($738m) for Abu Dhabi-based Taweelah power and water desalination plant.

Saudi Aramco has delayed the launch of its mega IPO for the second time in two years and investors are starting to tire of continued speculation and no hard numbers on valuation.

The Emirate of Sharjah shrugged of any concerns about broader volatility in emerging markets on Wednesday, to price a 10 year sukuk flat to its curve.

Aldar Investment Properties has raised a 10 year $500m sukuk, achieving a tightening of 35bp beyond initial guidance.