Middle East
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The government has had no problem raising money in capital markets since October 2023 -
Markets continue to remain benign, according to one EM syndicate banker
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The market has shown little reaction, but that would change if other powers got involved
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Islamic Development Bank deal sold inside the curve
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More Gulf banks, outside Saudi Arabia, are preparing subordinated bond issues this month
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The market is calm, said bankers and investors
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Nearly all subordinated issuance this year from the region has been in the AT1 sukuk format
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Longer tranches added during syndication off back of lender demand
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Bpifrance raises €160.5m with oversubscribed Elis block trade sold at tight discount
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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
