Middle East
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The Commercial Bank of Qatar hit the bond market for a five year benchmark on Wednesday, pulling in its spread to price the deal with around 5bp of new issue premium. -
Emirates Telecommunications company (Etisalat) was preparing on Tuesday for a dual tranche euro deal, while Commercial Bank Qatar was looking for a five year dollar bond.
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LimakPort, a Turkish port operator, said on Tuesday it will look to come to the dollar market for a 15 year amortising bond with a coupon that steps up if the issuer fails to meet sustainability targets.
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Market participants rejoiced this week as the primary market landscape returned to normal after US Treasury yield volatility subsided and a number of deals, both investment grade and high yield, came to the market.
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Standard Profil, the auto supplier which makes sealing for cars, was in the bond market on Tuesday looking to sell €275m of five year notes.
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Saudi Arabia's Red Sea Development Company has raised a green loan, marking the second deal of its kind raised in the kingdom and the first in local currency. Funds will be used to support the development of the country's new tourist attraction, the Red Sea Project.
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Omani state-owned oil company, OQ, has mandated banks to arrange a dollar bond offering, in what is likely to be a test of investor appetite for both high yield and oil credits.
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Emerging markets bond buyers and issuers are regaining confidence as US Treasury volatility falls, with issuance in CEEMEA and Latin America having picked up in recent days and a pipeline building.
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A campaign by a political opposition party questioning the deployment of Turkey’s FX reserves and a snub from the United States has put new pressure on the country’s bonds.
