Middle East
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Halkbank became the latest Turkish bank to throw its hat into the tier two ring on Wednesday, announcing plans for a three day roadshow in the US and UK. -
While global equities appear to be tanking, emerging market bonds are once again on fire with inflows supporting propping up what seems a never ending bid, but as ever, idiosyncratic risks are playing a bum note on some deals.
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With just over three weeks to go until Easter, the latest wave of IPOs in EMEA is progressing well. One deal was priced on Tuesday and bookbuilds have begun for two more.
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Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) made a second pioneering move into the sustainable bond market with the world’s first sustainable tier two bond on Tuesday, following on from a senior green bond last year.
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Lebanon took orders of nearly $18bn for its largest ever bond on Monday and quality international participation was seen in a book that remained dominated by local accounts, according to bankers on the deal.
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Qatari real estate developer Ezdan Holding has picked banks to arrange its second sukuk.
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The encouraging tone for EMEA IPOs has extended into Tuesday with a rare and successful real estate investment trust listing in the United Arab Emirates, for ENBD Reit.
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Lebanon was on track to print a triple tranche bond at the long end of the curve on Monday, having announced price talk first thing.
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Lenders flocked to join two Turkish bank refinancing deals this week, with a bump in pricing following political turmoil in the country.
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National Bank of Abu Dhabi revealed its new capital markets leadership on Thursday, following the bank’s merger with First Gulf Bank.
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Turkiye Sinai Kalkinma Bankasi (TSKB) has announced plans to roadshow an inaugural Basel III compliant tier two dollar deal, a week after Akbank’s successful debut in the format.
