Middle East
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Kuwait Projects Company (Kipco) attracted more than $1.4bn of orders for a new 10 year dollar deal after tightening pricing to 4.75% area. -
Turkey has made an opportunistic move to reopen its recent 10 year bond with a tap to raise an expected $1bn.
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Strong demand from local and Asian investors allowed Ahli Bank Qatar to pay a minimal new issue premium for its second dollar market outing on Wednesday.
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Even heavy indications from US Federal Reserve chair Janet Yellen the central bank will raise interest rates at its next meeting were not enough to derail the strong primary market in emerging market bonds.
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Ahli Bank Qatar emerged with pricing for a new five year senior dollar benchmark on Wednesday.
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Strong demand enabled Equate Petrochemical to aggressively revise pricing to print a restrained $500m sukuk on Monday from a book that reached $4.2bn before it was reconciled.
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A syndicated loan of as much as $3bn for Dubai Airports looks set to be wrapped up in just under a month’s time, according to a banker close to the deal.
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Bank of Sharjah has been forced to delay its planned senior bond sale after the Central Bank of the UAE failed to sign off the bank’s financials.
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Equate Petrochemicals was on track to print its debut sukuk on Monday. Bankers on the deal said it was likely to print inside where a new conventional bond would come.
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Shares in Arabtec Holding, the Dubai-based construction company, slumped 9.8% on Monday morning after it said it would complete a Dh1.5bn ($408m) rights issue after its second consecutive annual loss.
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The sovereign wealth fund of Oman is seeking to establish relationships with regional banks in Asia through a $600m syndicated loan to fund its acquisition of a stake in Oman Telecommunications.
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