Middle East
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Record deals from across region even as Gulf borrowers extend public market hiatus -
Meanwhile, Gulf borrowers head private as Iran war volatility keeps public flow thin
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Sovereign praised for move to secure funding after volatility
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Kuwait joins PP party
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The Iran war has led to a flurry of private trades from the Gulf
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Even if ceasefire succeeds, investors will still want a risk premium
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Easter holidays and Middle East volatility subdued regular private placement activity though Gulf states step up private funding
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Funding costs and new issue premiums are much higher than GCC issuers are used to
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Senior banker will move to Abu Dhabi to take up position
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Central banks in the region have stepped in with support and lenders are thought unlikely to let sub debt extend
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A prolonged oil shock will hurt airlines, but a Covid-style industry collapse is a long way off
