Middle East
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Emerging market economic growth managed to hang on to much of its momentum over August, according to the latest release of the IHS Markit Emerging Market Composite PMI index. -
Burgan Bank opened the senior dollar market for Kuwaiti lenders on Wednesday with a well received $500m five year bond.
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Emaar Properties made a triumphant return to the sukuk market on Wednesday with a tightly priced 10 year dollar bond.
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Crédit Agricole CIB has hired a ‘head of international’, a new role at the bank’s global markets division. Gene Kim joins from Standard Chartered, and will oversee the markets business in the Americas, Asia and the Middle East.
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Burgan Bank set price guidance for its dollar market debut on Wednesday morning after amassing more than $1bn of orders.
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Gulf supply remained the dominant theme in CEEMEA bonds again this week as markets reopened in buoyant mood after Monday’s US holiday.
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Kuwait's Burgan Bank emerged with initial price thoughts for an inaugural senior dollar deal on Tuesday morning.
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Bond supply from the Gulf Co-operation Council (GCC) region could resume as early as Tuesday as bankers reported positive feedback from two sets of investor meetings.
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Aluminium Bahrain (Alba) has increased the size of its seven year loan from $750m to $1.5bn after strong demand in syndication, said one banker on the deal.
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The first deals of what is set to be an autumn glut of bond supply from the Middle East suggest many investors have forgotten about a host of fear factors, including some at the heart of the region’s rocketing international debt funding needs this year. But market participants are wary of the effect of a huge print due from Saudi Arabia, writes Virginia Furness.
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