GCC
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The bond has some novel features, said one investor -
The bank will take $600m on a book twice that size
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Books were over $2.1bn for a $1bn trade
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Sovereign has taken out two-thirds of the year's international funding plan in one swoop
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The facility is being used to drive Saudi investment in industries away from petrochemicals
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Sovereign jumps in to make a start on gargantuan funding plans
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The Kuwaiti bank was one of GCC's first issuers in 2024
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Hybrid bonds are rare in the Gulf and even harder to find in Africa
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ESG issuance has surged from the Middle East since its first appearance in 2017
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Deal got done with local institutions and finished 2.1 times oversubscribed. International and retail accounts were irked by E&P’s share price tumble
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Internationally marketed IPO pays off as ‘global’ investors come in
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The country is the only purely sub-investment grade issuer left in the GCC
