Middle East

The Sultanate of Oman will launch syndicated for its $1bn sovereign loan tomorrow (Wednesday), according to a banker on the deal.

Commercial Bank of Dubai has released initial price thoughts for a five year dollar benchmark at mid-to low 200bp over mid-swaps.

Bahrain has picked banks for investor meetings ahead of a dollar bond deal and starts investor meetings this week.

The Ranger went on the hunt for meditating bankers and found that each in the market has their own definition of inner peace.

Turkish sovereign and bank bonds initially rallied 20bp-30bp on Monday on the Justice and Development (AKP) party’s election victory in Turkey, but investors should remember that this is short term relief, not a long term fix.

Turkish sovereign and bank bonds crunched tighter this week as the ruling Justice and Development Party (AKP) regained its parliamentary majority, but the rally lost its steam on Thursday as the market looked further forward to at least another four years under President Recep Tayyip Erdogan.

The Sultanate of Oman is tapping the loan market for $500m, its first loan in eight years, as the formerly cash-rich country faces a fiscal deficit.

Kuwait petrochemicals firm Equate is due to close a $6bn one year loan by early December that will include an Islamic financing component.

National Bank of Oman has mandated five banks for a dollar perpetual additional tier one (AT1) bond and is starting the roadshow for the deal on November 5.

Turkish sovereign and bank bonds have crunched tighter as the ruling Justice and Development Party (AKP) regained its parliamentary majority.

The Commercial Bank of Dubai has mandated six banks to arrange a Reg S dollar benchmark bond, and is starting the roadshow for the deal on Thursday.

Majid Al Futtaim (MAF) priced its latest 10 year sukuk flat or even inside its secondary curve, according to bankers on and away from the deal.