Middle East
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Bpifrance raises €160.5m with oversubscribed Elis block trade sold at tight discount -
Books over $1.5bn at launch at a spread of 80bp over Treasuries
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Gulf issuance will take a pause due to the Eid holiday next weekend, but June could be busy
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EM investors may be happy to see some senior supply after glut of tightly priced AT1
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Strong local bids enable AT1 sukuk issuers to set yields far below where overseas buyers see fair value
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Cash-heavy Islamic buyers allow sukuk issuers to grow 'more and more aggressive', said a banker
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More Reits to come after Dubai Residential won demand from sovereign wealth funds, family offices
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New issue premium estimates differed for each tranche
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The Turkey sovereign trade was as well timed as ever, said observers
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The company received its first credit rating this week
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Fair value for a seven year has not changed much since February's trade, thought one banker
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Another Saudi bank brought an AT1 the day before, continuing the spree
