Middle East
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The emirate has not printed in the public markets since 2024 -
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Another Dubai real estate firm priced fresh sukuk well inside its curve
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Change reflects growing importance of Saudi Arabia
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Third Saudi capital markets banker to leave in recent months
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The reaction was so benign that a small bank printed an AT1 this week
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Up to 30bp new issue premium offered at initial pricing disappeared
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BBVA and ENBD learnt of change when IPTs were put out
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Gulf lenders continue subordinated issuance spree with fresh SNB deal
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Prices have recovered from spring sell-off
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Pricing did not move from initial pricing until mid-afternoon, despite huge book
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Fair value for deal is a little bit above the 7% yield area, said leads
