Middle East

Concerns about rising public debt levels in Oman failed to deter bond buyers on Wednesday as the Gulf sovereign amassed $20bn of orders for its triple tranche dollar market return.

Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.

Dubai-based property developer Majid Al Futtaim (MAF) received a warm welcome from international investors on its return to the hybrid dollar market on Tuesday.

Books opened on Wednesday on the year’s first bumper Gulf sovereign deal, a triple trancher from Oman that is expected to raise at least $2bn and extend the borrower’s curve by more than 20 years. But an even bigger sovereign deal from the Gulf is waiting in the wings.

Gulf issuance dominated the picture in the CEEMEA bond market during the first half of the week as Oman brought the year’s first bumper sovereign deal from the region and two UAE borrowers boosted supply.

Warba Bank is on track to become the third Kuwaiti lender to raise capital via the sukuk market following the announcement on Tuesday of plans for a global roadshow.

Bank of Sharjah emerged on Tuesday with pricing for its delayed five year senior dollar market return.

Dubai-based property developer Majid Al Futtaim (MAF) emerged with pricing for a new subordinated perpetual bond on Tuesday morning after just one full day of a planned two day roadshow.

Hong Kong’s stock exchange and Saudi Arabian energy company Saudi Aramco are potentially a match made in heaven, according to the bourse's chief executive officer Charles Li.

The first ever Eurobond from a Gulf Co-operation Council (GCC) insurer could emerge as early as next week after Qatar Re announced plans for a global roadshow.

The UAE’s Majid Al Futtaim will begin investor meetings in Asia next week for a subordinated perpetual bond, the first from the Middle East this year.

Yapi Kredi took advantage of pent-up demand for Turkish bank paper to hammer down pricing on the first Eurobond from the sector for more than four months this week.