Qatar
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Qatar National Bank made the most of its early mover advantage to pull in over $2.6bn of orders, nearly a third of which came from Asia, to print its $1bn trade with a slim premium on Wednesday. -
Qatar National Bank (QNB) hit the screens with the first benchmark trade from the Gulf Cooperation Council after the summer break on Wednesday, taking orders in excess of $2.4bn by 10am.
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Qatar's Commercial Bank has signed a $166m loan from a group of Asian lenders, mostly Japanese, extending a trend of Middle Eastern borrowers heading east for cash.
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Doha Bank has fully exercised an $80m greenshoe option on its Taiwan targeted syndicated loan, increasing its size to $180m.
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Ooredoo executed a swift deal to snap up $500m ahead of the US Federal Reserve's interest rate meeting on Wednesday, printing inside its curve as demand for Middle East credits defied weak markets.
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Ooredoo finally opened books for a $500m no-grow 10 year bond on Wednesday after finishing investor meetings last week. With political risks and a US interest rate meeting posing risks to market stability, lead managers are hoping for a swift execution.
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Abu Dhabi National Energy Company (Taqa) has released initial price guidance for a dual trancher in a choppy market, while Qatari telco Ooredoo has chosen to wait.
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Al Khaliji Finance (AKCB) made use of its newly minted EMTN programme to sell its first bond in yen on Monday, and other Middle East names could follow.
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Ooredoo, the Qatar telecoms company, formerly Qtel, is roadshowing a dollar benchmark via eight banks, potentially adding to increased bond supply from the country, which already stands at seven times the full year total for 2015.
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Commercial Bank of Qatar is on track to print a new five year deal as bankers question whether the market is showing signs of too much supply.
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Qatar made history on Wednesday by printing the largest ever bond from a CEEMEA borrower. The triple tranche $9bn trade surpassed size expectations, and while initial teething problems saw the five and 10 year tranches soften in secondaries, rival bankers deemed the pricing a triumph.
