Saudi Arabia
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Bankers familiar with deal blame Iran-Israel conflict for price plunge -
More Gulf banks, outside Saudi Arabia, are preparing subordinated bond issues this month
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The market is calm, said bankers and investors
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Nearly all subordinated issuance this year from the region has been in the AT1 sukuk format
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Cash-heavy Islamic buyers allow sukuk issuers to grow 'more and more aggressive', said a banker
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New issue premium estimates differed for each tranche
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The company received its first credit rating this week
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Another Saudi bank brought an AT1 the day before, continuing the spree
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A splurge of Gulf AT1 issuance is coming and issuers are pushing hard on pricing
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A trio of Gulf banks print but costs may be rising
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Volumes of Formosa from Gulf banks have risen sharply from 2024 levels
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Saudi bank knocked 50bp off yield thanks to $2.4bn book
