GCC
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New issuance from the Middle East has soared since the end of August and now banker and investor attention is turning to how much more is to come from the region and how much capacity the market has to absorb it, especially with a sharp rise in US Treasury yields this week. -
Cepsa, the Spanish multinational oil and gas firm, will be worth up to €8.08bn when it lists on the Spanish Stock Exchanges later this month, according to terms released on Tuesday.
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Al Khalij Commercial Bank (AKCB) raised $500m of five year Reg S paper on Tuesday, receiving strong demand and tightening the spread by 20bp from price thoughts.
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Petrochemicals company Saudi Basic Industries Corporation (Sabic) is in the market on Tuesday with a dual tranche dollar deal.
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Gulf International Bank (GIB) has picked banks for a five year dollar benchmark, joining the stream of high quality issuance from Middle Eastern borrowers.
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Aldar Properties, a real estate company based in Abu Dhabi, needed large orders from lead managers on Tuesday to get to $500m with a seven year sukuk transaction.
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Al Khalij Commercial Bank is embarking on a roadshow for a Reg S five year dollar benchmark bond.
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Abu Dhabi based real estate company Aldar hit screens on Monday morning with a seven year sukuk, but the deal seems to be relying on heavy support from leads.
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Saudi Basic Industries Corporation (Sabic) has selected banks for its first trip to the bond market for five years, angling to refinance a bond maturing next week.
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Saudi Electricity Company issued a $2bn dual tranche Sukuk bond on Thursday, an issue which gathered $7bn of demand.
