Middle East
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With deposits replenished, the country’s lenders are gearing up for some bold new growth strategies.
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Qatar’s economy is in expansion mode, with diversification and investment underpinned by the government’s ambitious Vision 2030 strategy.
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With metrics improving and GDP growth reviving, Qatar Central Bank Governor Sheikh Abdullah bin Saud al-Thani is confident that the country has emerged stronger and fitter from the recent turbulent conditions.
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Fitch lowered Saudi Arabia’s credit rating on Monday, following the September 14 attack on Saudi Aramco’s oil infrastructure. -
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Investors absorbed $16.35bn of issuance from Middle Eastern borrowers this week as issuers from all over the credit spectrum brought deals all across the curve. Although all managed neat executions, the lack of secondary performance indicates that the market’s depth is finally being tested.
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Taqa, the Abu Dhabi National Energy Co, is in the market on Thursday for its first 30 year bond since 2006.
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First Abu Dhabi Bank's global head of loan capital markets, a veteran in the syndicated loans market, has resigned from the bank after five years in the role.
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Islamic Development Bank on Wednesday priced a five year sukuk bond, coming to market alongside Samba, a Saudi Arabia based bank. The deals are the latest in a flood of Middle East issuance that has raised $13.35bn this week alone.
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Three borrowers from the Middle East came to market on Tuesday, raising a combined $3.35bn from five tranches across the curve. The deals come on top of a period of heavy supply, including Abu Dhabi’s $10bn triple trancher on Monday.
