Qatar

After a week of no new paper in CEEMEA, EM bankers are looking forward to a busier next week as four bonds are slated from the region and the market looks supportive enough to allow issuers to pull the trigger.

Ezdan Holding, a Qatari property company, has mandated two banks for its debut sukuk and is embarking on investor meetings on Thursday.

Qatar National Bank has tapped the $625m Formosa bond it sold on Thursday for a further $475m on Friday, taking advantage of follow-on demand after the deal had been priced.

Qatar National Bank has sold the largest ever dollar floating rate note Formosa bond — a $625m deal — as several other issuers from the region clamour for the attention of this Taiwanese bond market.

Investors and analysts found encouragement this week in the resilience of oil prices after the failure of OPEC talks in Doha on Sunday. But there are signs that the positive mood will not last long.

Commitments are due for Qatar National Bank's €1.5bn loan on Friday, after only a short stint in the market. The deal is expected to entice a raft of European lenders keen to put cheaply raised euros to work.

Cheap euro loans from European banks are attracting the attention of typically dollar hungry EM borrowers, as Qatar National Bank (QNB) launched a rare offer in the currency.

Ahli Bank Qatar printed its $500m five year bond on Wednesday from a $1.2bn book, demonstrating that there is investor demand for Middle East bank debt at the right price.

Ahli Bank Qatar has tightened price guidance for its debut bond to 265bp-275bp area over swaps, and the deal looks set for success, according to a banker away from the mandate.

Qatar National Bank is turning to euro funding with its latest €1.5bn loan, which was launched on Tuesday.

Ahli Bank Qatar (IBQ) has released initial price guidance for its debut bond, a Reg S dollar benchmark, at 275bp area over mid-swaps.

Ahli Bank Qatar is embarking on a series of investor meetings for its debut bond, a Reg S dollar benchmark.