Middle East

Turkiye Sinai Kalkinma Bankasi (TSKB) brought new flavour to the SRI bond market this week with the first ever sustainable subordinated tier two, but the deal fell short of being a major milestone as many investors who follow green bonds are not able to buy such paper. Virginia Furness reports.

Peter Bakos, Bank Muscat’s head of international coverage and origination, has decided to leave the bank to pursue opportunities in Europe.

The heightened prices Turkey's banks are having to pay to refinance loans has attracted more banks to the latest syndication, a €100m deal for Isbank AG.

Turkey will meet investors in the UAE next week ahead of a potential return to the dollar sukuk market, leads announced on Thursday.

Akbank closed a loan syndication on Wednesday with eight more banks joining the deal, taking the number involved to 38 and the refinancing to more than $1bn.

Turkey’s Turkiye Sinai Kalkinma Bankasi (TSKB) printed the first ever Basel III compliant sustainable tier two on Tuesday.

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.

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.

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.

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.

Qatari real estate developer Ezdan Holding has picked banks to arrange its second sukuk.