Middle East
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Bahraini investment group Gulf Finance House is targeting a $300m five year issue for its debut international sukuk. -
Two CEEMEA sovereigns are taking the plunge this week — the Kingdom of Saudi Arabia with a triple tranche dollar benchmark and Romania with a dual tranche euro bond.
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Frequent syndicated loan borrower and United Arab Emirates-based aircraft lessor Dubai Aerospace Enterprise has raised a $300m term loan with Chinese banks.
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Qatar Islamic Bank this week printed the Gulf region’s first Formosa sukuk, as issuers there stepped up their use of increasingly attractive Asian debt markets.
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Turkey lender TSKB printed its $400m five year senior bond on Wednesday inside its own curve. The sale drew a $3.9bn book, allowing a big tightening from initial guidance to pricing. Following the clear success of the deal, other Turkish banks are expected to follow, starting with Isbank which was straight in with its own subordinated bond on Thursday.
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Turkey's primary equity capital markets opened for the first time since 2018 on Wednesday as an undisclosed group of shareholders set out to sell 1.9% of Akbank.
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Capital Group, one of the largest asset managers in the US, bought 13.45m shares in NMC Health on January 8, according to a disclosure on the London Stock Exchange. They were worth about £160m. That was the day after a £375m block trade by Saeed Al Qebaisi and Khaleefa Al Muhairi, two of the three controlling shareholders in the UAE health company, which faced criticism from short-seller Muddy Waters of its balance sheet and financial statements in December.
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Turkiye Sinai Kalkinma Bankasi (TSKB) has released price guidance on the first benchmark Turkish bank bond since March last year. Books had reached over $2.2bn by midday and the market has been told to expect a $400m deal.
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Bahrain Mumtalakat, the country’s sovereign wealth fund, printed its $500m bond on Tuesday at 4.25% having tightened 62.5bp from initial guidance.
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Turkiye Sinai Kalkinma Bankasi (TSKB) is planning to print a five year senior unsecured dollar bond on Wednesday. A lead manager on the deal said that the size of the note is likely to be below benchmark because the bank has limited liquidity needs.
