Middle East
-
Petrochemicals company Saudi Basic Industries Corporation (Sabic) and Qatari bank Al Khalij Commercial Bank printed bonds on Tuesday with no sign of investors wearying of Middle Eastern supply despite $12.5bn having been sold from the region since the start of September. -
Cepsa, the Spanish multinational oil and gas firm, will be worth up to €8.08bn when it lists on the Spanish Stock Exchanges later this month, according to terms released on Tuesday.
-
Al Khalij Commercial Bank (AKCB) raised $500m of five year Reg S paper on Tuesday, receiving strong demand and tightening the spread by 20bp from price thoughts.
-
Petrochemicals company Saudi Basic Industries Corporation (Sabic) is in the market on Tuesday with a dual tranche dollar deal.
-
Jefferies' drive to build its EMEA emerging markets business took another step forward this week, with the hiring of two research analysts, supporting a trading business that's been put together over the past two years. The US bank is rumoured to have its eyes on the primary markets next.
-
Turkey’s manufacturing PMI dropped steeply in September, joining the cavalcade of evidence pointing to the country being in recession. But government support of banks is reflected in their dollar debt and diplomatic relations with the rest of the world appear to be improving.
-
Vakifbank has sold the first ever domestically placed AT1, raising TL5bn ($828.5m) with a perpetual non call five year private placement. An investor away from the deal said it was bought by a single, government linked investor.
-
-
Turk Eximbank has taken to the road for a non-deal roadshow in London, meeting with international investors to discuss the institution’s credit, alongside three other emerging markets borrowers.
-
The US Federal Open Market Committee (FOMC) provided little in the way of encouragement for emerging markets at its meeting on Wednesday, delivering a 25bp hike to the Fed Funds Rate, meaning the wind will keep blowing firmly against emerging markets. Lewis McLellan reports.
-
Gulf International Bank (GIB) has picked banks for a five year dollar benchmark, joining the stream of high quality issuance from Middle Eastern borrowers.
-
Turkey’s Akbank has signed a $980m-equivalent syndicated loan, sending a wave of relief through the debt markets — though the borrower had to make significant concessions amid Turkey’s economic difficulties.
