Saudi Arabia
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The duo were the first AT1s from the GCC since Emirates NBD's reopener in April -
Books were more than double the deal's size at launch
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A Saudi real estate issuer is planning a sukuk, the sector's first trade since the Iran war began
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Missile alert stunted flow, but pricing still the main barrier
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Pair bring first public non-bank deals from GCC since the start of the Iran War
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Accumulation of large debts has not accompanied the GCC's real estate boom, as in the past
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Some capital market staff laugh off risks, others worry about their families
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Gulf debt's safe haven status shaken as Abu Dhabi bond widens 15bp
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Official moves from top three issuer in Middle East to top bank
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Some price discovery needed due to sukuk format and long tenor
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Oil giant's bonds were priced no more than 15bp over the sovereign's curve
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Saudi government-related bond issuance is 20% up year-on-year
