GCC
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United Arab Emirates-based National Central Cooling Company (Tabreed) is embarking on a roadshow to market a debut senior unsecured dollar Reg S sukuk. -
Islamic Development Bank has picked banks for a roadshow promoting its debut euro denominated sukuk benchmark — for the second time this year.
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Despite a flurry of announcements by business leaders that they were abandoning their visits to a Saudi conference amid claims of the torture and murder of a journalist, IMF boss Christine Lagarde said she would go to Riyadh to “speak my mind”.
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Gulf International Bank has cancelled a five year dollar bond that it began roadshowing at the end of September.
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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.
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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.
