Middle East
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The company's new loan is backed by a Korean export credit agency -
First new listing on Kuwaiti exchange for over a year was five times oversubscribed
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◆ Simplification plans boggle banking boffins ◆ Hungry, hungry hyperscalers to push utilities into bond market ◆ A loan in the sand: private credit jostles for place in Middle East debt markets
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Local bank liquidity is crowding out private lenders
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Sovereign gets bigger size and longer tenor in dirham despite closing market
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PIF's commercial paper programmes have been rated by S&P
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Tuesday's 7.5 year sukuk will be the sovereign's second auction
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Deal is only fourth accelerated sale in a quiet year for Saudi blocks
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Market is particularly interesting for banks doing capital trades
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Company has offered the highest yields on Saudi Arabian new issues in the last few years
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Books were more than three times the deal's $1bn size, although orders did leave
